State of New Jersey Common Pension Fund D Sells 6,936 Shares of Doximity, Inc. $DOCS

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Doximity, Inc. by 14.7%, selling 6,936 shares during the first quarter, leaving it with 40,308 shares valued at approximately $2.34 million.
• Insider transactions reveal that directors sold a total of 36,000 shares worth over $2.14 million in the last quarter, indicating significant movements among Doximity's leadership.
• Doximity's latest earnings report showed a revenue increase of 15.2% year-over-year and an EPS of $0.36, surpassing analyst estimates of $0.31.

State of New Jersey Common Pension Fund D reduced its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 14.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,308 shares of the company's stock after selling 6,936 shares during the period. State of New Jersey Common Pension Fund D's holdings in Doximity were worth $2,339,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Doximity in the 1st quarter worth approximately $65,702,000. Vanguard Group Inc. boosted its holdings in Doximity by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after acquiring an additional 990,923 shares in the last quarter. Fundsmith LLP bought a new stake in Doximity in the fourth quarter valued at $37,934,000. Invesco Ltd. increased its position in Doximity by 54.8% during the 1st quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock valued at $114,280,000 after purchasing an additional 696,923 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in Doximity by 180.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 972,157 shares of the company's stock worth $51,903,000 after purchasing an additional 625,467 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity Stock Performance

Shares of NASDAQ:DOCS traded up $0.46 during midday trading on Tuesday, reaching $66.86. 524,730 shares of the company's stock traded hands, compared to its average volume of 2,303,147. Doximity, Inc. has a one year low of $35.32 and a one year high of $85.21. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 66.69, a P/E/G ratio of 4.10 and a beta of 1.36. The stock has a 50 day moving average of $61.00 and a 200 day moving average of $60.41.

Doximity (NASDAQ:DOCS - Get Free Report) last issued 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 return on equity of 21.75% and a net margin of 36.60%.The company's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Sell-side analysts predict that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DOCS shares. Mizuho cut their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, May 16th. Zacks Research cut Doximity from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Monday, June 2nd. Wells Fargo & Company raised their target price on Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Finally, Needham & Company LLC lifted their price target on Doximity from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, August 8th. 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. Based on data from MarketBeat, Doximity currently has an average rating of "Moderate Buy" and a consensus target price of $66.21.

Insider Buying and Selling

In other Doximity news, Director Regina M. Benjamin sold 5,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.00, for a total transaction of $315,000.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at $1,046,934. The trade was a 23.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold 36,000 shares of company stock valued at $2,140,940 over the last 90 days. Company insiders own 31.30% of the company's stock.

About Doximity

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.