15,791 Shares in Doximity, Inc. (NASDAQ:DOCS) Purchased by Range Financial Group LLC

Range Financial Group LLC acquired a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,791 shares of the company's stock, valued at approximately $916,000.

Several other hedge funds also recently bought and sold shares of the business. UMB Bank n.a. grew its position in Doximity by 128.0% in the 1st quarter. UMB Bank n.a. now owns 1,311 shares of the company's stock valued at $76,000 after acquiring an additional 736 shares during the last quarter. MRA Advisory Group bought a new position in Doximity in the 1st quarter valued at $505,000. Apella Capital LLC grew its position in Doximity by 14.0% in the 1st quarter. Apella Capital LLC now owns 79,039 shares of the company's stock valued at $4,395,000 after acquiring an additional 9,719 shares during the last quarter. Rhumbline Advisers grew its position in Doximity by 2.5% in the 1st quarter. Rhumbline Advisers now owns 341,854 shares of the company's stock valued at $19,838,000 after acquiring an additional 8,177 shares during the last quarter. Finally, J2 Capital Management Inc bought a new position in Doximity in the 1st quarter valued at $353,000. Institutional investors own 87.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DOCS. Needham & Company LLC cut their price objective on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. William Blair reiterated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Canaccord Genuity Group lowered their target price on Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a report on Friday, May 16th. Raymond James lowered their target price on Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Mizuho lowered their target price on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $62.84.

Insider Activity

In other news, 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 now directly owns 16,618 shares of the company's stock, valued at approximately $878,926.02. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total value of $2,575,350.00. Following the completion of the transaction, the chief financial officer now directly owns 357,165 shares in the company, valued at $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,000 shares of company stock valued at $2,900,770. Company insiders own 37.40% of the company's stock.

Doximity Price Performance

Doximity stock traded down $0.51 during midday trading on Thursday, reaching $56.96. The company's stock had a trading volume of 1,684,190 shares, compared to its average volume of 2,136,727. The stock's 50-day simple moving average is $54.93 and its 200-day simple moving average is $58.36. Doximity, Inc. has a 52-week low of $25.00 and a 52-week high of $85.21. The stock has a market capitalization of $10.70 billion, a P/E ratio of 56.96, a PEG ratio of 4.10 and a beta of 1.32.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates 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 period in the previous year, the firm earned $0.25 earnings per share. The business's revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities research analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

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.