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

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

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock valued at $598,159,000 after acquiring an additional 485,102 shares during the last quarter. FMR LLC boosted its stake in Doximity by 37.6% in the 4th 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 period. Geode Capital Management LLC boosted its stake in shares of Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock worth $157,668,000 after buying an additional 95,458 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Doximity by 2.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock worth $124,644,000 after buying an additional 62,366 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after buying an additional 164,200 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Doximity Price Performance

Shares of NASDAQ DOCS traded down $1.05 during mid-day trading on Wednesday, reaching $57.49. 2,011,951 shares of the company's stock traded hands, compared to its average volume of 2,138,535. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21. The business has a 50-day simple moving average of $54.93 and a 200 day simple moving average of $58.36. The stock has a market cap of $10.80 billion, a P/E ratio of 57.49, a PEG ratio of 4.10 and a beta of 1.32.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business posted $0.25 earnings per share. The firm's revenue was up 17.1% on a year-over-year basis. Equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DOCS shares. William Blair reaffirmed an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Mizuho lowered their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. BTIG Research upgraded shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Monday, June 2nd. Robert W. Baird cut their target price on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 20th. Finally, Raymond James cut their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Eleven investment 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.84.

Insider Activity

In other Doximity news, CFO Anna Bryson sold 45,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total value 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. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 16,618 shares in the company, valued at $878,926.02. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock valued at $2,900,770 in the last three months. Company 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.