Polar Capital Holdings Plc Acquires 262,695 Shares of Doximity, Inc. (NASDAQ:DOCS)

Polar Capital Holdings Plc grew its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 218.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 382,695 shares of the company's stock after acquiring an additional 262,695 shares during the quarter. Polar Capital Holdings Plc owned 0.20% of Doximity worth $20,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DOCS. Global Retirement Partners LLC boosted its position in shares of Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after acquiring an additional 440 shares during the period. UMB Bank n.a. lifted its position in Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after purchasing an additional 235 shares during the period. Larson Financial Group LLC lifted its position in Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after purchasing an additional 250 shares during the period. Optimum Investment Advisors bought a new position in Doximity in the fourth quarter worth $43,000. Finally, Kapitalo Investimentos Ltda bought a new position in Doximity in the fourth quarter worth $50,000. 87.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DOCS has been the subject of several research reports. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 7th. Canaccord Genuity Group raised their target price on Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $60.00 to $90.00 in a research report on Friday, February 7th. Mizuho raised their target price on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Truist Financial reduced their target price on Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.39.

Insider Activity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now owns 16,618 shares in the company, valued at $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by corporate insiders.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $58.54 on Friday. Doximity, Inc. has a twelve month low of $23.52 and a twelve month high of $85.21. The firm has a market cap of $10.93 billion, a PE ratio of 58.54, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The business has a fifty day moving average of $57.58 and a 200-day moving average of $57.65.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share 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%. During the same period last year, the firm earned $0.25 earnings per share. The business's quarterly revenue was up 17.1% on a year-over-year basis. On average, analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

About Doximity

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.

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