38,323 Shares in Doximity, Inc. (NASDAQ:DOCS) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,323 shares of the company's stock, valued at approximately $2,224,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Doximity by 37.6% during the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after purchasing an additional 2,571,580 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Doximity by 708.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock worth $80,641,000 after acquiring an additional 1,323,634 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Doximity in the 1st quarter worth $65,702,000. Invesco Ltd. raised its holdings in Doximity by 525.1% in the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock worth $67,934,000 after purchasing an additional 1,068,849 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Doximity by 1,178.3% in the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock worth $56,711,000 after purchasing an additional 979,113 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director owned 6,360 shares in the company, valued at approximately $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $52.89, for a total value of $105,780.00. Following the transaction, the director directly owned 16,618 shares of the company's stock, valued at approximately $878,926.02. The trade was a 10.74% decrease in their ownership of the stock. 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. Corporate insiders own 37.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group set a $50.00 target price on shares of Doximity and gave the stock a "neutral" rating in a report on Wednesday, May 21st. Raymond James Financial decreased their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Canaccord Genuity Group decreased their target price 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. Mizuho decreased their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Finally, Needham & Company LLC decreased their target price on shares of Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.89.

Doximity Stock Performance

Shares of Doximity stock traded up $0.05 during trading on Friday, hitting $60.70. 786,047 shares of the company's stock were exchanged, compared to its average volume of 2,379,456. The business has a 50-day simple moving average of $57.67 and a 200-day simple moving average of $59.59. Doximity, Inc. has a 52-week low of $25.00 and a 52-week high of $85.21. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of 60.70, a PEG ratio of 4.10 and a beta of 1.37.

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

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.