Wealth Enhancement Advisory Services LLC Acquires Shares of 4,575 Doximity, Inc. (NASDAQ:DOCS)

Wealth Enhancement Advisory Services LLC bought a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,575 shares of the company's stock, valued at approximately $244,000.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in Doximity by 37.6% during the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after purchasing an additional 2,571,580 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Doximity by 708.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock valued at $80,641,000 after acquiring an additional 1,323,634 shares in the last quarter. Invesco Ltd. increased its stake in shares of Doximity by 525.1% during the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock worth $67,934,000 after purchasing an additional 1,068,849 shares in the last quarter. Franklin Resources Inc. increased its position in Doximity by 1,178.3% during the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock worth $56,711,000 after buying an additional 979,113 shares in the last quarter. Finally, Fundsmith LLP purchased a new stake in shares of Doximity in the fourth quarter valued at $37,934,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value 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 ownership of the stock. 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 the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the sale, the director now owns 16,618 shares of the company's stock, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock valued at $2,900,770 over the last 90 days. 37.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOCS. William Blair reiterated an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Truist Financial reduced their price objective on shares of Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. Morgan Stanley lowered their target price 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, Mizuho reduced their price target on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.84.

Doximity Stock Up 0.2%

Shares of DOCS stock traded up $0.14 during mid-day trading on Friday, reaching $57.18. The company's stock had a trading volume of 867,374 shares, compared to its average volume of 2,140,258. The firm has a market capitalization of $10.74 billion, a PE ratio of 57.18, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. The company's 50 day simple moving average is $55.44 and its 200-day simple moving average is $58.53. Doximity, Inc. has a 12-month low of $25.00 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. The company's revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

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.