Doximity, Inc. (NASDAQ:DOCS) Holdings Lifted by Polar Capital Holdings Plc

Polar Capital Holdings Plc increased its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 218.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,695 shares of the company's stock after buying an additional 262,695 shares during the period. Polar Capital Holdings Plc owned 0.20% of Doximity worth $20,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Doximity by 37.6% during the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Doximity by 708.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock valued at $80,641,000 after acquiring an additional 1,323,634 shares during the period. Invesco Ltd. grew its position in shares of Doximity by 525.1% during the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after acquiring an additional 1,068,849 shares during the period. Franklin Resources Inc. boosted its holdings in Doximity by 1,178.3% in the 4th quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock worth $56,711,000 after buying an additional 979,113 shares during the last quarter. Finally, Fundsmith LLP acquired a new stake in Doximity in the 4th quarter worth about $37,934,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Activity

In other news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 now owns 16,618 shares of the company's stock, valued at $946,062.74. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Doximity Stock Down 3.2%

Shares of NASDAQ:DOCS traded down $1.69 on Wednesday, hitting $51.31. 1,774,358 shares of the company traded hands, compared to its average volume of 2,086,076. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The stock has a 50 day simple moving average of $57.04 and a 200-day simple moving average of $57.99. The company has a market cap of $9.58 billion, a PE ratio of 51.31, a PEG ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. Doximity's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. As a group, sell-side analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on DOCS. Mizuho dropped their price target 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. Raymond James cut their price target on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Robert W. Baird dropped their target price on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday. Morgan Stanley dropped their price objective on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group decreased their price target on shares of Doximity from $80.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.22.

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.