Wellington Management Group LLP Buys New Position in Doximity, Inc. (NASDAQ:DOCS)

Wellington Management Group LLP purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,656 shares of the company's stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after buying an additional 440 shares during the period. Larson Financial Group LLC boosted its position in Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after acquiring an additional 250 shares during the last quarter. Optimum Investment Advisors bought a new stake in Doximity during the fourth quarter valued at $43,000. Kapitalo Investimentos Ltda acquired a new stake in Doximity during the 4th quarter worth about $50,000. Finally, Huntington National Bank raised its position in shares of Doximity by 1,440.8% in the 4th quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after acquiring an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on DOCS shares. Canaccord Genuity Group cut their target price on Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. KeyCorp cut their price target on Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Mizuho lowered their price objective on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, May 16th. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Monday, June 2nd. Finally, Truist Financial decreased their price target on shares of Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.84.

Doximity Trading Up 2.6%

Shares of NASDAQ:DOCS opened at $58.83 on Friday. The stock has a market cap of $11.05 billion, a PE ratio of 58.83, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. The stock's fifty day simple moving average is $54.72 and its two-hundred day simple moving average is $58.22. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share 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%. During the same quarter last year, the company earned $0.25 EPS. Doximity's revenue was up 17.1% compared to the same quarter last year. On average, sell-side analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Transactions at Doximity

In other news, CFO Anna Bryson sold 45,000 shares of Doximity 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 in the company, valued at $20,440,552.95. The trade was a 11.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $52.89, for a total transaction of $105,780.00. Following the completion of the transaction, the director now directly owns 16,618 shares in the company, valued at $878,926.02. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock worth $2,900,770 in the last 90 days. Insiders own 37.40% of the company's stock.

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.

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