QRG Capital Management Inc. Acquires New Stake in Doximity, Inc. $DOCS

Key Points

• QRG Capital Management Inc. acquired a new stake in Doximity, Inc., purchasing 14,229 shares worth approximately $873,000 in the second quarter.
• Doximity's stock has seen significant movements, trading up 3.1% recently with a current market capitalization of $13.79 billion and a price-to-earnings ratio of 73.62.
• Insider transactions revealed that Director Regina M. Benjamin sold 5,000 shares at an average price of $70.50, marking a 20.13% decrease in her position.

QRG Capital Management Inc. acquired a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,229 shares of the company's stock, valued at approximately $873,000.

Other hedge funds have also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC acquired a new position in Doximity in the 1st quarter valued at $29,000. Allworth Financial LP raised its stake in Doximity by 104.0% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after purchasing an additional 287 shares during the last quarter. National Bank of Canada FI acquired a new position in Doximity in the 1st quarter valued at $33,000. Spire Wealth Management raised its stake in Doximity by 73.2% in the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after purchasing an additional 260 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in Doximity by 70.7% in the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company's stock valued at $43,000 after purchasing an additional 309 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Trading Up 3.1%

Shares of NASDAQ:DOCS opened at $73.62 on Thursday. The business has a 50-day moving average price of $68.02 and a 200 day moving average price of $60.92. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 73.62, a PEG ratio of 4.10 and a beta of 1.38. Doximity, Inc. has a 12-month low of $40.87 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities research analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Transactions at Doximity

In other news, Director Regina M. Benjamin sold 5,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $70.50, for a total transaction of $352,500.00. Following the sale, the director owned 19,839 shares of the company's stock, valued at approximately $1,398,649.50. This trade represents a 20.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the director directly owned 3,221 shares in the company, valued at approximately $241,575. This trade represents a 86.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,000 shares of company stock valued at $2,581,880. Corporate insiders own 31.30% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Canaccord Genuity Group increased their price objective on Doximity from $59.00 to $67.00 and gave the company a "hold" rating in a research note on Thursday, September 18th. Zacks Research downgraded Doximity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Robert W. Baird raised their target price on Doximity from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. Evercore ISI raised their target price on Doximity from $75.00 to $81.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Piper Sandler raised their target price on Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Doximity currently has an average rating of "Moderate Buy" and a consensus target price of $69.26.

Doximity 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.

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