Sand Hill Global Advisors LLC Purchases 177,288 Shares of Doximity, Inc. $DOCS

Key Points

• Sand Hill Global Advisors LLC has significantly increased its stake in Doximity, purchasing an additional 177,288 shares, totaling 240,301 shares owned, which reflects a growth of 281.4%.
• Insider transactions show that Director Regina M. Benjamin sold 5,000 shares for $315,000, reducing her stake by 23.13%, while insiders collectively sold 36,000 shares worth over $2 million in the last quarter.
• Doximity has received positive analyst ratings, with upgrades and increased price targets from several research firms, suggesting a consensus rating of "Moderate Buy" among analysts.

Sand Hill Global Advisors LLC grew its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 281.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,301 shares of the company's stock after buying an additional 177,288 shares during the period. Sand Hill Global Advisors LLC owned approximately 0.13% of Doximity worth $13,945,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in Doximity by 0.3% during the 1st quarter. Amalgamated Bank now owns 60,928 shares of the company's stock worth $3,536,000 after buying an additional 186 shares during the period. Greenleaf Trust increased its position in shares of Doximity by 5.4% in the first quarter. Greenleaf Trust now owns 4,492 shares of the company's stock worth $261,000 after purchasing an additional 230 shares during the period. Spire Wealth Management increased its position in shares of Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares during the period. Allworth Financial LP increased its position in shares of Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after purchasing an additional 287 shares during the period. Finally, Brooklyn Investment Group increased its position in shares of Doximity by 70.7% in the first quarter. Brooklyn Investment Group now owns 746 shares of the company's stock worth $43,000 after purchasing an additional 309 shares during the period. Institutional investors own 87.19% of the company's stock.

Insider Buying and Selling

In related news, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $63.00, for a total value of $315,000.00. Following the sale, the director owned 16,618 shares in the company, valued at $1,046,934. This represents a 23.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $57.09, for a total transaction of $114,180.00. Following the completion of the sale, the director directly owned 16,618 shares of the company's stock, valued at $948,721.62. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock worth $2,140,940 in the last quarter. Insiders own 31.30% of the company's stock.

Doximity Trading Up 2.5%

DOCS opened at $65.12 on Monday. Doximity, Inc. has a 1-year low of $34.34 and a 1-year high of $85.21. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 65.12, a PEG ratio of 4.10 and a beta of 1.36. The company's fifty day moving average price is $60.02 and its two-hundred day moving average price is $60.27.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI upgraded Doximity from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $50.00 to $70.00 in a research report on Wednesday, July 9th. Canaccord Genuity Group lifted their target price on Doximity from $50.00 to $59.00 and gave the company a "hold" rating in a research report on Friday, August 8th. KeyCorp lifted their target price on Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Monday, June 2nd. Finally, Piper Sandler lifted their price target on Doximity from $65.00 to $69.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Ten investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

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