Rhumbline Advisers Purchases 8,177 Shares of Doximity, Inc. (NASDAQ:DOCS)

Rhumbline Advisers lifted its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 341,854 shares of the company's stock after acquiring an additional 8,177 shares during the quarter. Rhumbline Advisers owned 0.18% of Doximity worth $19,838,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DOCS. Global Retirement Partners LLC increased its holdings in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares during the period. Larson Financial Group LLC raised its holdings in shares of Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after acquiring an additional 250 shares in the last quarter. Optimum Investment Advisors bought a new position in Doximity during the fourth quarter valued at approximately $43,000. Kapitalo Investimentos Ltda bought a new position in Doximity during the fourth quarter valued at about $50,000. Finally, Huntington National Bank lifted its stake in shares of Doximity by 1,440.8% in the fourth quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after buying an additional 1,023 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOCS. Canaccord Genuity Group cut their target price on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research note on Friday, May 16th. KeyCorp lowered their target price on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC lowered their price objective on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Raymond James reduced their target price on Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, William Blair restated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.84.

Doximity Price Performance

Doximity stock traded down $0.91 during mid-day trading on Monday, reaching $57.94. 2,932,566 shares of the company were exchanged, compared to its average volume of 2,132,275. Doximity, Inc. has a 12 month low of $25.00 and a 12 month high of $85.21. The company has a fifty day simple moving average of $54.72 and a 200-day simple moving average of $58.36. The firm has a market cap of $10.88 billion, a PE ratio of 57.94, a PEG ratio of 4.10 and a beta of 1.32.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating 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 in the prior year, the business posted $0.25 EPS. The business's revenue for the quarter was up 17.1% on a year-over-year basis. Sell-side analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

Insiders Place Their Bets

In related 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 transaction, the chief financial officer now directly owns 357,165 shares of the company's stock, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,000 shares of company stock valued at $2,900,770. 37.40% of the stock is currently owned by company insiders.

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.