Envestnet Asset Management Inc. Acquires 16,143 Shares of Doximity, Inc. (NASDAQ:DOCS)

Envestnet Asset Management Inc. lifted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 129,249 shares of the company’s stock after purchasing an additional 16,143 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Doximity worth $4,397,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DOCS. Bank of New York Mellon Corp grew its holdings in shares of Doximity by 60.6% during the 1st quarter. Bank of New York Mellon Corp now owns 172,855 shares of the company’s stock valued at $9,004,000 after purchasing an additional 65,196 shares during the last quarter. US Bancorp DE boosted its position in Doximity by 325.4% during the 1st quarter. US Bancorp DE now owns 2,646 shares of the company’s stock valued at $138,000 after buying an additional 2,024 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Doximity by 417.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,099 shares of the company’s stock valued at $1,099,000 after buying an additional 17,021 shares during the period. Natixis Advisors L.P. purchased a new stake in Doximity during the 1st quarter valued at $983,000. Finally, BlackRock Inc. boosted its position in Doximity by 53.6% during the 1st quarter. BlackRock Inc. now owns 2,052,183 shares of the company’s stock valued at $106,898,000 after buying an additional 716,547 shares during the period. Institutional investors own 54.65% of the company’s stock.

Doximity Stock Performance

Shares of DOCS opened at $24.43 on Tuesday. The company’s fifty day moving average is $21.77 and its 200 day moving average is $27.51. Doximity, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $40.12. The stock has a market capitalization of $4.54 billion, a PE ratio of 42.11, a P/E/G ratio of 4.80 and a beta of 1.04.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. Doximity had a net margin of 27.47% and a return on equity of 14.26%. The company had revenue of $113.61 million for the quarter, compared to analysts’ expectations of $109.19 million. As a group, research analysts forecast that Doximity, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on DOCS. Truist Financial dropped their target price on shares of Doximity from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, August 9th. Bank of America reduced their price target on shares of Doximity from $28.00 to $24.00 in a research note on Wednesday, August 9th. Canaccord Genuity Group dropped their price objective on shares of Doximity from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, September 5th. Raymond James dropped their price objective on shares of Doximity from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. Finally, Guggenheim downgraded shares of Doximity from a “buy” rating to a “neutral” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.40.

Doximity 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.