Occudo Quantitative Strategies LP Takes Position in Doximity, Inc. (NASDAQ:DOCS)

Occudo Quantitative Strategies LP acquired a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 20,821 shares of the company's stock, valued at approximately $1,112,000.

A number of other hedge funds have also recently bought and sold shares of DOCS. FMR LLC boosted its position in Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after buying an additional 2,571,580 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Doximity by 708.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock valued at $80,641,000 after buying an additional 1,323,634 shares during the last quarter. Invesco Ltd. boosted its position in Doximity by 525.1% in the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after buying an additional 1,068,849 shares during the last quarter. Franklin Resources Inc. boosted its position in Doximity by 1,178.3% in the 4th quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock valued at $56,711,000 after buying an additional 979,113 shares during the last quarter. Finally, Fundsmith LLP acquired a new position in shares of Doximity in the 4th quarter valued at $37,934,000. 87.19% of the stock is currently owned by institutional investors.

Insider Activity

In other Doximity news, CFO Anna Bryson sold 45,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was 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 owns 357,165 shares of the company's stock, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director now directly owns 16,618 shares in the company, valued at approximately $946,062.74. This represents a 10.74% decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. William Blair reissued an "outperform" rating on shares of Doximity in a research note on Friday. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and increased their price target for the company from $60.00 to $90.00 in a research note on Friday, February 7th. Wells Fargo & Company reissued an "equal weight" rating on shares of Doximity in a research note on Friday, February 7th. The Goldman Sachs Group increased their price target on Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Truist Financial cut their price target on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.78.

Doximity Stock Performance

Doximity stock traded down $5.85 during midday trading on Friday, reaching $52.60. 17,787,810 shares of the company's stock were exchanged, compared to its average volume of 2,074,153. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 52.60, a P/E/G ratio of 4.10 and a beta of 1.41. The stock's 50-day simple moving average is $57.40 and its 200 day simple moving average is $57.84.

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 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%. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Doximity's revenue for the quarter was up 17.1% on a year-over-year basis. Research analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current year.

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.