Range Financial Group LLC Buys Shares of 15,791 Doximity, Inc. (NASDAQ:DOCS)

Range Financial Group LLC bought a new stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,791 shares of the company's stock, valued at approximately $916,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock valued at $598,159,000 after purchasing an additional 485,102 shares in the last quarter. FMR LLC lifted its position in shares of Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after purchasing an additional 2,571,580 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Doximity by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock worth $157,668,000 after purchasing an additional 95,458 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Doximity by 2.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock valued at $124,644,000 after acquiring an additional 62,366 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Doximity by 9.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock valued at $98,649,000 after acquiring an additional 164,200 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DOCS shares. KeyCorp cut their price objective on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Needham & Company LLC lowered their price objective on shares of Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Canaccord Genuity Group decreased their price target on shares of Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. Finally, Robert W. Baird decreased their price target on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.84.

Doximity Stock Up 2.6%

Doximity stock opened at $58.83 on Monday. The stock has a 50-day simple moving average of $54.72 and a 200 day simple moving average of $58.29. Doximity, Inc. has a 12-month low of $25.00 and a 12-month high of $85.21. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 58.83, a P/E/G ratio of 4.10 and a beta of 1.32.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data 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%. Doximity's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. As a group, sell-side analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Activity

In other Doximity news, CFO Anna Bryson sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 now owns 357,165 shares of the company's stock, valued at $20,440,552.95. This represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction that occurred on 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 now directly owns 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 51,000 shares of company stock valued at $2,900,770 in the last ninety days. 37.40% of the stock is owned by 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.

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