Vanguard Group Inc. Acquires 990,923 Shares of Doximity, Inc. (NASDAQ:DOCS)

Vanguard Group Inc. boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,194,492 shares of the company's stock after acquiring an additional 990,923 shares during the quarter. Vanguard Group Inc. owned approximately 6.53% of Doximity worth $707,646,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its position in shares of Doximity by 8.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,579,708 shares of the company's stock valued at $84,341,000 after purchasing an additional 124,216 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Doximity by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,576,455 shares of the company's stock valued at $84,167,000 after purchasing an additional 63,815 shares during the period. Northern Trust Corp raised its position in shares of Doximity by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,459,185 shares of the company's stock valued at $77,906,000 after purchasing an additional 125,332 shares during the period. Invesco Ltd. raised its position in shares of Doximity by 525.1% in the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after purchasing an additional 1,068,849 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Doximity by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 1,137,912 shares of the company's stock valued at $66,033,000 after purchasing an additional 86,135 shares during the period. Institutional investors own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of recent analyst reports. Raymond James Financial lifted their price target on shares of Doximity from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Truist Financial lifted their price target on shares of Doximity from $52.00 to $61.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. dropped their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Wells Fargo & Company lifted their price target on shares of Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $66.21.

Doximity Trading Down 0.7%

NASDAQ DOCS traded down $0.48 on Thursday, hitting $63.54. 818,945 shares of the company were exchanged, compared to its average volume of 2,356,423. The firm has a 50 day moving average of $59.89 and a two-hundred day moving average of $60.19. The company has a market cap of $11.94 billion, a P/E ratio of 63.54, a P/E/G ratio of 4.10 and a beta of 1.36. Doximity, Inc. has a 1-year low of $34.34 and a 1-year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. Research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Doximity news, Director Regina M. Benjamin sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $997,080. The trade was a 37.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were 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 $948,721.62. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,000 shares of company stock worth $2,140,940 in the last 90 days. Corporate insiders own 31.30% 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.