Strategic Global Advisors LLC Makes New $1.51 Million Investment in Doximity, Inc. (NASDAQ:DOCS)

Strategic Global Advisors LLC bought a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,210 shares of the company's stock, valued at approximately $1,506,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Snowden Capital Advisors LLC purchased a new position in Doximity in the fourth quarter valued at about $248,000. Raiffeisen Bank International AG purchased a new position in shares of Doximity during the 4th quarter worth approximately $179,000. Point72 Hong Kong Ltd increased its stake in shares of Doximity by 319.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 13,187 shares of the company's stock worth $704,000 after purchasing an additional 10,043 shares in the last quarter. Polar Capital Holdings Plc increased its stake in shares of Doximity by 218.9% during the 4th quarter. Polar Capital Holdings Plc now owns 382,695 shares of the company's stock worth $20,432,000 after purchasing an additional 262,695 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of Doximity during the 4th quarter worth approximately $246,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction on Thursday, May 1st. The shares were 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 in the company, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $113,860.00. Following the transaction, the director now owns 16,618 shares in the company, valued at $946,062.74. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 37.40% of the company's stock.

Doximity Trading Down 4.2%

Shares of DOCS traded down $2.22 during mid-day trading on Wednesday, reaching $50.78. The company had a trading volume of 4,029,532 shares, compared to its average volume of 2,093,675. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 50.78, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The firm has a fifty day simple moving average of $57.04 and a 200-day simple moving average of $57.99. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. As a group, equities analysts predict that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DOCS shares. Needham & Company LLC dropped their price objective on shares of Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Mizuho dropped their price objective on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, May 16th. Canaccord Genuity Group dropped their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Morgan Stanley dropped their price objective on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Doximity from $80.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $61.22.

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.