Principal Financial Group Inc. Acquires 13,123 Shares of Doximity, Inc. (NASDAQ:DOCS)

Principal Financial Group Inc. grew its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 4.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 307,097 shares of the company's stock after purchasing an additional 13,123 shares during the period. Principal Financial Group Inc. owned about 0.16% of Doximity worth $17,821,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in Doximity by 3.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 27,100 shares of the company's stock worth $1,573,000 after purchasing an additional 1,000 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Doximity by 10.9% in the first quarter. New York State Teachers Retirement System now owns 113,145 shares of the company's stock valued at $6,566,000 after buying an additional 11,078 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Doximity by 0.3% in the first quarter. Amalgamated Bank now owns 60,928 shares of the company's stock valued at $3,536,000 after buying an additional 186 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Doximity during the 1st quarter worth about $1,900,000. Finally, Highland Capital Management LLC bought a new stake in Doximity during the 1st quarter worth about $1,296,000. Institutional investors own 87.19% of the company's stock.

Doximity Trading Up 0.3%

Shares of DOCS stock traded up $0.18 on Friday, hitting $60.26. The stock had a trading volume of 1,616,681 shares, compared to its average volume of 2,173,693. The firm has a market cap of $11.32 billion, a P/E ratio of 60.26, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a twelve month low of $25.00 and a twelve month high of $85.21. The company has a fifty day moving average price of $57.17 and a two-hundred day moving average price of $59.17.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same quarter last year, the firm earned $0.25 EPS. The company's quarterly revenue was up 17.1% on a year-over-year basis. On average, analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DOCS shares. Raymond James Financial dropped their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Mizuho reduced their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. Robert W. Baird decreased their price objective on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 20th. Truist Financial dropped their target price on Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, May 16th. Finally, Morgan Stanley cut their price target on Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Doximity has a consensus rating of "Moderate Buy" and an average target price of $64.42.

Insiders Place Their Bets

In related news, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $60.04, for a total value of $300,200.00. Following the completion of the transaction, the director directly owned 16,618 shares of the company's stock, valued at approximately $997,744.72. This represents a 23.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $52.89, for a total value of $105,780.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $878,926.02. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,000 shares of company stock valued at $4,400,970 in the last quarter. 37.40% of the stock is owned by company insiders.

About Doximity

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.