Sarasin & Partners LLP Buys New Shares in Doximity, Inc. (NASDAQ:DOCS)

Sarasin & Partners LLP acquired a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 60,301 shares of the company's stock, valued at approximately $3,499,000.

Several other institutional investors have also recently bought and sold shares of DOCS. Handelsbanken Fonder AB increased its stake in shares of Doximity by 14.8% in the 1st quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock valued at $1,979,000 after buying an additional 4,400 shares during the period. SG Americas Securities LLC acquired a new position in shares of Doximity during the first quarter valued at $65,702,000. GAMMA Investing LLC boosted its holdings in Doximity by 62.3% in the first quarter. GAMMA Investing LLC now owns 2,816 shares of the company's stock valued at $163,000 after acquiring an additional 1,081 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Doximity by 2.1% in the first quarter. Yousif Capital Management LLC now owns 47,357 shares of the company's stock valued at $2,748,000 after acquiring an additional 954 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Doximity in the first quarter worth about $1,277,000. Institutional investors own 87.19% of the company's stock.

Doximity Stock Down 1.8%

Shares of DOCS traded down $1.04 on Friday, hitting $55.92. The company's stock had a trading volume of 1,284,854 shares, compared to its average volume of 2,136,908. The firm's fifty day moving average price is $55.13 and its 200-day moving average price is $58.43. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 55.92, a P/E/G 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 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period in the previous year, the firm earned $0.25 earnings per share. Doximity's quarterly revenue was up 17.1% compared to the same quarter last year. As a group, equities analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial cut their target price on shares of Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. Needham & Company LLC cut their price objective on shares of Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. BTIG Research upgraded shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Monday, June 2nd. Finally, Morgan Stanley cut their price target on Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $62.84.

Insider Transactions at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the sale, the director now directly owns 16,618 shares in the company, valued at approximately $946,062.74. The trade was a 10.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anna Bryson sold 45,000 shares of the stock in a transaction dated 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 owns 357,165 shares of the company's stock, valued at approximately $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. Insiders sold 51,000 shares of company stock valued at $2,900,770 over the last three months. Company insiders own 37.40% of the company's stock.

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.