Smith Group Asset Management LLC Has $925,000 Stock Holdings in Doximity, Inc. $DOCS

Key Points

• Smith Group Asset Management LLC has reduced its stake in Doximity, Inc. by 34.5%, bringing its holdings to 15,080 shares valued at $925,000.
• Insider trading activity was significant, with Director Timothy S. Cabral selling 20,000 shares for $1.5 million, reducing his ownership by 86.13%.
• Analysts have varied price targets for Doximity, with Goldman Sachs setting a target at $64.00, while Needham & Company boosted their target to $75.00, reflecting differing confidence in the stock's performance.

Smith Group Asset Management LLC cut its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 34.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,080 shares of the company's stock after selling 7,960 shares during the quarter. Smith Group Asset Management LLC's holdings in Doximity were worth $925,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. VSM Wealth Advisory LLC purchased a new stake in shares of Doximity in the first quarter worth approximately $29,000. Allworth Financial LP increased its stake in Doximity by 104.0% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after buying an additional 287 shares during the period. National Bank of Canada FI acquired a new stake in shares of Doximity during the 1st quarter valued at $33,000. Spire Wealth Management boosted its stake in shares of Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after buying an additional 260 shares during the period. Finally, Brooklyn Investment Group increased its stake 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 acquiring an additional 309 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the completion of the sale, the director directly owned 3,221 shares of the company's stock, valued at approximately $241,575. This represents a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction on 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 owned 16,618 shares in the company, valued at approximately $948,721.62. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock worth $2,635,880 over the last three months. 31.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DOCS has been the topic of a number of recent research reports. The Goldman Sachs Group set a $64.00 target price on Doximity and gave the company a "sell" rating in a research note on Wednesday, October 1st. Zacks Research lowered Doximity from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Raymond James Financial set a $75.00 price objective on Doximity in a report on Wednesday, September 10th. Canaccord Genuity Group lifted their target price on shares of Doximity from $59.00 to $67.00 and gave the company a "hold" rating in a research note on Thursday, September 18th. Finally, Needham & Company LLC boosted their target price on shares of Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $69.37.

Doximity Trading Down 0.3%

NASDAQ:DOCS opened at $66.19 on Friday. The firm has a market capitalization of $12.40 billion, a PE ratio of 66.19, a PEG ratio of 4.10 and a beta of 1.38. Doximity, Inc. has a 1 year low of $40.87 and a 1 year high of $85.21. The firm's fifty day simple moving average is $69.56 and its 200 day simple moving average is $61.61.

Doximity (NASDAQ:DOCS - Get Free Report) last released 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 net margin of 36.60% and a return on equity of 21.75%. Doximity's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, analysts anticipate that Doximity, Inc. will post 0.99 EPS 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.

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