XTX Topco Ltd Takes Position in Doximity, Inc. (NASDAQ:DOCS)

Key Points

• XTX Topco Ltd has invested approximately $3.60 million in Doximity, Inc., acquiring 61,966 shares during the 1st quarter.
• Several hedge funds increased their stakes in Doximity, with 87.19% of the stock now owned by institutional investors.
• Doximity's recent earnings report showed a 17.1% increase in quarterly revenue year-over-year, with earnings per share surpassing analysts' estimates.

XTX Topco Ltd purchased a new stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 61,966 shares of the company's stock, valued at approximately $3,596,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. VSM Wealth Advisory LLC purchased a new position in shares of Doximity during the first quarter worth about $29,000. Allworth Financial LP grew its holdings in shares of Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after purchasing an additional 287 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Doximity by 73.2% during the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Doximity during the fourth quarter worth about $50,000. Finally, Huntington National Bank grew its holdings in shares of Doximity by 1,440.8% during the fourth quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after purchasing an additional 1,023 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Performance

Shares of Doximity stock traded down $0.85 during midday trading on Wednesday, reaching $58.85. 1,653,261 shares of the company's stock traded hands, compared to its average volume of 2,363,944. The company has a market cap of $11.05 billion, a PE ratio of 58.85, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. The stock has a 50 day moving average of $58.11 and a 200-day moving average of $59.68. 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 earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Needham & Company LLC cut their target price on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Raymond James Financial cut their target price on Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. The Goldman Sachs Group set a $50.00 target price on Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Finally, Bank of America upped their target price on Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.89.

Insider Transactions at Doximity

In other Doximity news, Director Regina M. Benjamin sold 10,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director owned 16,618 shares in the company, valued at approximately $997,080. This represents a 37.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the transaction, the director owned 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 have sold a total of 76,000 shares of company stock worth $4,400,970 in the last ninety days. 31.30% of the stock is owned by company insiders.

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.