Voya Investment Management LLC Buys 22,409 Shares of Doximity, Inc. $DOCS

Key Points

• Voya Investment Management LLC increased its ownership of Doximity, Inc. by 24.2% in the first quarter, acquiring an additional 22,409 shares, bringing their total to 114,945 shares valued at approximately $6.67 million.
• Institutional investors hold 87.19% of Doximity's stock, reflecting substantial confidence in the company, while several hedge funds have also recently adjusted their stakes.
• Doximity received several analyst rating upgrades, with price targets raised by institutions like Bank of America and Piper Sandler, boosting confidence in its market performance.

Voya Investment Management LLC boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,945 shares of the company's stock after purchasing an additional 22,409 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Doximity worth $6,670,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted 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. boosted 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Doximity by 130.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company's stock valued at $114,133,000 after purchasing an additional 1,113,076 shares during the period. Fuller & Thaler Asset Management Inc. boosted 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. Finally, Bank of New York Mellon Corp boosted 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. Institutional investors own 87.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC raised their price objective on Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. KeyCorp raised their price objective on Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Monday, June 2nd. Zacks Research downgraded Doximity from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Canaccord Genuity Group increased their target price on Doximity from $59.00 to $67.00 and gave the stock a "hold" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Doximity has an average rating of "Moderate Buy" and a consensus target price of $67.42.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 10,000 shares of the firm'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 directly owned 6,360 shares of the company's stock, valued at $381,600. This trade represents a 61.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $70.50, for a total value of $352,500.00. Following the sale, the director directly owned 19,839 shares of the company's stock, valued at $1,398,649.50. This represents a 20.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,000 shares of company stock valued at $2,281,880 in the last three months. Corporate insiders own 31.30% of the company's stock.

Doximity Price Performance

Shares of DOCS traded down $0.71 during mid-day trading on Friday, reaching $72.89. The company had a trading volume of 2,853,244 shares, compared to its average volume of 2,206,223. Doximity, Inc. has a twelve month low of $40.15 and a twelve month high of $85.21. The company's 50-day moving average is $64.76 and its 200-day moving average is $59.92. The company has a market capitalization of $13.65 billion, a P/E ratio of 72.89, a P/E/G ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its earnings results 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 return on equity of 21.75% and a net margin of 36.60%.During the same period in the previous year, the firm posted $0.28 earnings per share. The business's revenue was up 15.2% on a year-over-year basis. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities analysts expect 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.