Principal Financial Group Inc. Grows Holdings in Doximity, Inc. (NASDAQ:DOCS)

Principal Financial Group Inc. increased its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 307,097 shares of the company's stock after buying an additional 13,123 shares during the period. Principal Financial Group Inc. owned about 0.16% of Doximity worth $17,821,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management raised its holdings in Doximity by 73.2% during the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after buying an additional 250 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Doximity during the 4th quarter worth $43,000. Kapitalo Investimentos Ltda purchased a new stake in Doximity in the fourth quarter valued at $50,000. Finally, Huntington National Bank boosted its stake in Doximity by 1,440.8% in the fourth quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $58,000 after acquiring an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Price Performance

NASDAQ:DOCS traded up $1.27 during mid-day trading on Monday, reaching $61.47. The company's stock had a trading volume of 1,215,631 shares, compared to its average volume of 2,174,671. Doximity, Inc. has a twelve month low of $25.00 and a twelve month high of $85.21. The company's fifty day simple moving average is $57.24 and its two-hundred day simple moving average is $59.22. The stock has a market cap of $11.54 billion, a P/E ratio of 61.47, a P/E/G ratio of 4.10 and a beta of 1.37.

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

Insider Transactions at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total transaction of $113,860.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at $946,062.74. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer directly owned 357,165 shares in the company, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,000 shares of company stock valued at $4,400,970. 37.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOCS has been the topic of a number of research analyst reports. Evercore ISI upgraded Doximity from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $50.00 to $70.00 in a research report on Wednesday, July 9th. Mizuho reduced their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Needham & Company LLC decreased their price target on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a report on Friday, May 16th. Bank of America increased their target price on Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Finally, Robert W. Baird decreased their price objective on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Ten analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.42.

Doximity Company Profile

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.