Wealthedge Investment Advisors LLC Invests $826,000 in Doximity, Inc. (NASDAQ:DOCS)

Wealthedge Investment Advisors LLC purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,469 shares of the company's stock, valued at approximately $826,000.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in shares of Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after purchasing an additional 440 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after purchasing an additional 250 shares during the last quarter. Optimum Investment Advisors acquired a new position in shares of Doximity during the 4th quarter valued at $43,000. Kapitalo Investimentos Ltda acquired a new position in shares of Doximity during the 4th quarter valued at $50,000. Finally, Huntington National Bank lifted its holdings in shares of Doximity by 1,440.8% during the 4th quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $58,000 after acquiring an additional 1,023 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Trading Up 0.5%

DOCS stock traded up $0.28 on Friday, hitting $52.22. 1,471,453 shares of the company's stock traded hands, compared to its average volume of 2,102,155. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 52.22, a P/E/G ratio of 4.10 and a beta of 1.41. The stock has a fifty day moving average of $55.12 and a 200-day moving average of $58.12.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. Doximity's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. On average, equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total transaction of $113,860.00. Following the completion of the sale, the director now directly owns 16,618 shares of the company's stock, valued at approximately $946,062.74. This represents a 10.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the sale, the chief financial officer now directly owns 357,165 shares of the company's stock, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 37.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on DOCS. Morgan Stanley cut their price objective on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. KeyCorp dropped their target price on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group set a $50.00 target price on shares of Doximity and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Doximity in a research report on Friday, February 7th. Finally, Canaccord Genuity Group lowered their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.89.

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.