Wealth Enhancement Advisory Services LLC Lowers Stock Holdings in Doximity, Inc. $DOCS

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Doximity, Inc. by 26.3%, ending the second quarter with 10,002 shares valued at approximately $617,000.
• Analyst ratings for Doximity are generally positive, with an average price target of $68.16 and several firms rating the stock as either a Buy or Outperform.
• Insider trading activity includes a significant sale by Director Regina M. Benjamin, who sold 5,000 shares at an average price of $60.04, reducing her holdings substantially.

Wealth Enhancement Advisory Services LLC reduced its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 26.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,002 shares of the company's stock after selling 3,568 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Doximity were worth $617,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of DOCS. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Doximity in the 2nd quarter worth $320,000. Lifestyle Asset Management Inc. grew its stake in shares of Doximity by 4.9% during the second quarter. Lifestyle Asset Management Inc. now owns 6,312 shares of the company's stock valued at $387,000 after buying an additional 293 shares during the last quarter. MRA Advisory Group increased its holdings in shares of Doximity by 57.9% in the second quarter. MRA Advisory Group now owns 13,733 shares of the company's stock worth $842,000 after buying an additional 5,038 shares during the period. Gallacher Capital Management LLC bought a new stake in shares of Doximity in the 2nd quarter valued at about $286,000. Finally, Voya Investment Management LLC lifted its stake in shares of Doximity by 24.2% in the 1st quarter. Voya Investment Management LLC now owns 114,945 shares of the company's stock valued at $6,670,000 after acquiring an additional 22,409 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on DOCS. Piper Sandler raised their price target on Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Wells Fargo & Company raised their target price on shares of Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. The Goldman Sachs Group set a $64.00 target price on shares of Doximity and gave the stock a "sell" rating in a research note on Wednesday. Robert W. Baird increased their price target on shares of Doximity from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, September 11th. Finally, Needham & Company LLC raised their price target on shares of Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $68.16.

Insiders Place Their Bets

In other Doximity news, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $60.04, for a total value of $300,200.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at $997,744.72. This represents a 23.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Friday, August 1st. The shares were sold at an average price of $57.09, for a total value of $114,180.00. Following the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $948,721.62. This trade represents a 10.74% 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 $2,581,880 over the last three months. 31.30% of the stock is owned by company insiders.

Doximity Stock Up 1.7%

Shares of DOCS stock opened at $73.25 on Friday. The firm has a market capitalization of $13.72 billion, a PE ratio of 73.25, a P/E/G ratio of 4.10 and a beta of 1.38. The company has a 50 day moving average price of $67.25 and a 200-day moving average price of $60.70. Doximity, Inc. has a 52 week low of $40.87 and a 52 week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating 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%.The company's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

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.

Want to see what other hedge funds are holding DOCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Doximity, Inc. (NASDAQ:DOCS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.