241,935 Shares in Doximity, Inc. (NASDAQ:DOCS) Acquired by Coatue Management LLC

Coatue Management LLC purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 241,935 shares of the company’s stock, valued at approximately $14,080,000.

A number of other institutional investors also recently added to or reduced their stakes in DOCS. DekaBank Deutsche Girozentrale purchased a new stake in Doximity during the 2nd quarter worth approximately $28,000. Legal & General Group Plc purchased a new stake in Doximity during the 2nd quarter worth approximately $59,000. Daiwa Securities Group Inc. purchased a new stake in Doximity during the 2nd quarter worth approximately $64,000. Citigroup Inc. purchased a new stake in Doximity during the 2nd quarter worth approximately $223,000. Finally, Deutsche Bank AG purchased a new stake in Doximity during the 2nd quarter worth approximately $291,000. 13.04% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:DOCS traded down $3.55 during midday trading on Thursday, reaching $74.30. 25,184 shares of the company traded hands, compared to its average volume of 2,395,930. Doximity, Inc. has a twelve month low of $41.17 and a twelve month high of $107.79. The firm has a fifty day moving average of $83.15.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Monday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The company had revenue of $72.67 million for the quarter, compared to analyst estimates of $63.41 million. As a group, sell-side analysts forecast that Doximity, Inc. will post 0.28 EPS for the current fiscal year.

A number of brokerages have recently weighed in on DOCS. Needham & Company LLC began coverage on Doximity in a report on Monday, July 19th. They issued a “buy” rating and a $62.00 price target for the company. The Goldman Sachs Group began coverage on Doximity in a report on Monday, July 19th. They issued a “neutral” rating for the company. Morgan Stanley boosted their price target on Doximity from $52.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 31st. Raymond James boosted their price target on Doximity from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, August 11th. Finally, Zacks Investment Research downgraded Doximity from a “buy” rating to a “hold” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $70.75.

In other Doximity news, insider Joseph B. Kleine sold 200,000 shares of the business’s stock in a transaction on Friday, August 13th. The stock was sold at an average price of $75.77, for a total transaction of $15,154,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anna Bryson sold 23,359 shares of the business’s stock in a transaction on Friday, August 13th. The stock was sold at an average price of $75.00, for a total value of $1,751,925.00. Following the transaction, the chief financial officer now owns 75,247 shares of the company’s stock, valued at approximately $5,643,525. The disclosure for this sale can be found here.

Doximity Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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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Institutional Ownership by Quarter for Doximity (NASDAQ:DOCS)

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