Vident Advisory LLC Has $1.80 Million Position in Doximity, Inc. $DOCS

Key Points

• Vident Advisory LLC increased its stake in Doximity, Inc. by 231.7%, now holding 30,932 shares valued at approximately $1.80 million as of the end of the 1st quarter.
• Several institutional investors, including Vanguard and Invesco, have also significantly raised their stakes in Doximity, with institutional ownership now at 87.19%.
• Doximity reported better-than-expected quarterly earnings, with $0.36 earnings per share, exceeding the consensus estimate of $0.31.

Vident Advisory LLC raised its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 231.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,932 shares of the company's stock after purchasing an additional 21,608 shares during the quarter. Vident Advisory LLC's holdings in Doximity were worth $1,795,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Doximity by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after purchasing an additional 990,923 shares during the period. Invesco Ltd. raised its stake 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. Fuller & Thaler Asset Management Inc. raised its stake in Doximity by 9.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,730,282 shares of the company's stock valued at $100,408,000 after purchasing an additional 150,574 shares during the period. Northern Trust Corp raised its stake in Doximity by 9.4% during the 4th 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. Finally, Bank of New York Mellon Corp raised its stake in Doximity by 8.2% during the 1st 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. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Trading Down 0.7%

Shares of NASDAQ:DOCS opened at $67.94 on Tuesday. The stock has a market capitalization of $12.72 billion, a PE ratio of 67.94, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 1 year low of $35.32 and a 1 year high of $85.21. The firm has a fifty day moving average price of $62.03 and a 200 day moving average price of $60.08.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, sell-side analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.00, for a total value of $315,000.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at approximately $1,046,934. This represents a 23.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the company's stock in a transaction on 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 owned 6,360 shares of the company's stock, valued at $381,600. This represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,000 shares of company stock worth $1,929,380. Corporate insiders own 31.30% of the company's stock.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of research reports. Canaccord Genuity Group upped their price target on shares of Doximity from $50.00 to $59.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Zacks Research downgraded shares of Doximity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Monday, June 2nd. Finally, Evercore ISI raised shares of Doximity from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $50.00 to $70.00 in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.21.

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.

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