Odyssean LLC Invests $2.38 Million in Doximity, Inc. $DOCS

Key Points

• Odyssean LLC acquired 114,590 Doximity shares worth approximately $2.38 million, while institutional investors collectively own 87.19% of DOCS.
• Doximity reported quarterly EPS of $0.29, exceeding the $0.16 analyst consensus, with revenue of $156.62 million—up 7.3% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $32.43 price target; DOCS recently traded at $24.74.

Odyssean LLC acquired a new stake in shares of Doximity, Inc. (NYSE:DOCS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 114,590 shares of the company's stock, valued at approximately $2,377,000. Odyssean LLC owned approximately 0.06% of Doximity as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. AXQ Capital LP boosted its stake in Doximity by 1,354.5% in the 2nd quarter. AXQ Capital LP now owns 177,044 shares of the company's stock worth $3,672,000 after purchasing an additional 164,872 shares in the last quarter. Continuum Advisory LLC acquired a new position in Doximity during the 2nd quarter valued at approximately $67,000. Nykredit A S acquired a new position in Doximity during the 2nd quarter valued at approximately $96,000. Wellington Management Group LLP raised its holdings in shares of Doximity by 24.7% in the second quarter. Wellington Management Group LLP now owns 3,135,113 shares of the company's stock worth $65,022,000 after buying an additional 621,464 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Doximity in the second quarter worth $778,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Price Performance

NYSE:DOCS opened at $24.74 on Wednesday. The company has a 50 day moving average price of $22.39 and a 200-day moving average price of $23.13. Doximity, Inc. has a 1-year low of $17.15 and a 1-year high of $76.51. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 19.79 and a beta of 1.29.

Doximity (NYSE:DOCS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.13. The firm had revenue of $156.62 million for the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.Doximity's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. On average, sell-side analysts anticipate that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DOCS shares. Jefferies Financial Group lowered shares of Doximity from a "buy" rating to a "hold" rating and dropped their price objective for the company from $51.00 to $19.00 in a report on Thursday, May 14th. Zacks Research upgraded Doximity from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Truist Financial lifted their price target on Doximity from $19.00 to $24.00 and gave the stock a "hold" rating in a research report on Thursday, August 13th. Bank of America reiterated an "underperform" rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Finally, Wolfe Research raised Doximity to an "outperform" rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $32.43.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 7,500 shares of Doximity stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.11, for a total value of $293,325.00. Following the sale, the director directly owned 3,221 shares in the company, valued at approximately $125,973.31. The trade was a 69.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 1,770 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $24.94, for a total value of $44,143.80. Following the completion of the transaction, the chief accounting officer owned 97,004 shares in the company, valued at approximately $2,419,279.76. This trade represents a 1.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 11,714 shares of company stock valued at $387,351 in the last three months. Corporate insiders own 31.80% of the company's stock.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.

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