Russell Investments Group Ltd. Increases Stock Holdings in Doximity, Inc. $DOCS

Key Points

• Russell Investments Group Ltd. increased its stake in Doximity, Inc. by 59.9%, owning a total of 85,569 shares worth approximately $4.97 million after acquiring an additional 32,047 shares in Q1.
• Doximity's quarterly earnings report showed a 15.2% revenue increase year-over-year, with earnings per share of $0.36, surpassing consensus estimates of $0.31.
• Insider trading activity has been notable, with two directors each selling 10,000 shares at an average price of $60.00, leading to significant decreases in their positions.

Russell Investments Group Ltd. increased its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 59.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,569 shares of the company's stock after purchasing an additional 32,047 shares during the quarter. Russell Investments Group Ltd.'s holdings in Doximity were worth $4,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. VSM Wealth Advisory LLC bought a new position in Doximity in the first quarter valued at about $29,000. Allworth Financial LP lifted its holdings in Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after acquiring an additional 287 shares during the period. National Bank of Canada FI bought a new position in Doximity in the first quarter valued at about $33,000. Spire Wealth Management lifted its holdings in Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after acquiring an additional 260 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Doximity in the fourth quarter valued at about $50,000. 87.19% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Friday, August 1st. The stock was sold at an average price of $57.09, for a total value of $114,180.00. Following the transaction, the director directly owned 16,618 shares in the company, valued at approximately $948,721.62. This trade represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the transaction, the director owned 6,360 shares in the company, valued at approximately $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,000 shares of company stock worth $2,140,940. 31.30% of the stock is currently owned by company insiders.

Doximity Price Performance

Shares of NASDAQ:DOCS traded up $0.19 during trading on Tuesday, hitting $66.59. The company had a trading volume of 498,676 shares, compared to its average volume of 2,303,058. Doximity, Inc. has a one year low of $35.32 and a one year high of $85.21. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 66.59, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. The company has a fifty day simple moving average of $61.00 and a two-hundred day simple moving average of $60.41.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (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%.During the same period in the prior year, the firm posted $0.28 EPS. Doximity's revenue for the quarter was up 15.2% on a year-over-year basis. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DOCS shares. Needham & Company LLC increased their target price on Doximity from $67.00 to $75.00 and gave the company a "buy" rating in a report on Friday, August 8th. Wells Fargo & Company upped their price target on Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Mizuho reduced their price target on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Canaccord Genuity Group upped their price target on Doximity from $50.00 to $59.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Finally, Evercore ISI upgraded Doximity from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $50.00 to $70.00 in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of "Moderate Buy" and an average target price of $66.21.

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.