Doximity, Inc. $DOCS Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in Doximity, Inc. (NYSE:DOCS) by 24.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,135,113 shares of the company’s stock after buying an additional 621,464 shares during the quarter. Wellington Management Group LLP owned approximately 1.76% of Doximity worth $65,022,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Doximity by 24.2% in the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after acquiring an additional 20,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after purchasing an additional 210 shares in the last quarter. NewEdge Advisors LLC raised its stake in Doximity by 613.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after purchasing an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Doximity by 33.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after purchasing an additional 63,873 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in Doximity in the 1st quarter valued at $283,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

Shares of Doximity stock opened at $26.33 on Thursday. The stock has a 50 day moving average of $23.06 and a 200 day moving average of $23.06. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 20.61 and a beta of 1.25. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51.

Doximity (NYSE:DOCS) last posted its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The company had revenue of $156.62 million for the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.Doximity’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. Analysts forecast that Doximity, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $24.95, for a total value of $49,900.00. Following the transaction, the director owned 19,839 shares of the company’s stock, valued at $494,983.05. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy S. Cabral sold 7,500 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.11, for a total transaction of $293,325.00. Following the transaction, the director directly owned 3,221 shares of the company’s stock, valued at approximately $125,973.31. This trade represents a 69.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,714 shares of company stock valued at $437,251 over the last 90 days. 31.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on DOCS. The Goldman Sachs Group dropped their target price on shares of Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Evercore set a $40.00 price objective on shares of Doximity in a research note on Friday, August 7th. Barclays increased their price objective on shares of Doximity from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Doximity in a report on Wednesday, August 12th. Finally, Bank of America restated an “underperform” rating and issued a $20.00 price target (down from $38.00) on shares of Doximity in a research report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.43.

About Doximity

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.