Louisiana State Employees Retirement System Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Louisiana State Employees Retirement System bought a new position in Doximity, Inc. (NASDAQ:DOCS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 33,200 shares of the company’s stock, valued at approximately $931,000.

Several other large investors have also bought and sold shares of DOCS. Vanguard Group Inc. raised its holdings in Doximity by 5.9% in the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after buying an additional 616,157 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Doximity by 344.2% during the third quarter. AQR Capital Management LLC now owns 540,126 shares of the company’s stock valued at $11,461,000 after purchasing an additional 418,523 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Doximity during the fourth quarter valued at approximately $6,518,000. Qube Research & Technologies Ltd purchased a new position in shares of Doximity during the third quarter valued at approximately $4,112,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Doximity by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock valued at $26,095,000 after purchasing an additional 107,776 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.97, for a total value of $67,425.00. Following the transaction, the director now owns 10,258 shares of the company’s stock, valued at $276,658.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 39.40% of the company’s stock.

Doximity Price Performance

DOCS opened at $23.59 on Friday. The firm has a market cap of $4.40 billion, a P/E ratio of 35.74, a PEG ratio of 3.09 and a beta of 1.17. Doximity, Inc. has a 1-year low of $19.71 and a 1-year high of $36.92. The company has a 50 day simple moving average of $27.08 and a two-hundred day simple moving average of $26.17.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $135.28 million during the quarter, compared to analyst estimates of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. Equities analysts anticipate that Doximity, Inc. will post 0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a report on Friday, February 9th. Leerink Partnrs reissued a “market perform” rating on shares of Doximity in a report on Monday, February 26th. Evercore ISI reissued an “in-line” rating and set a $30.00 price objective on shares of Doximity in a report on Tuesday, April 2nd. Barclays initiated coverage on shares of Doximity in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.82.

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.