Doximity, Inc. (NASDAQ:DOCS) Position Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Doximity, Inc. (NASDAQ:DOCS) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,640 shares of the company’s stock after buying an additional 1,030 shares during the quarter. State of Alaska Department of Revenue’s holdings in Doximity were worth $907,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Range Financial Group LLC acquired a new position in Doximity during the first quarter valued at $916,000. Wells Fargo & Company MN raised its position in shares of Doximity by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company’s stock valued at $19,698,000 after buying an additional 11,811 shares during the last quarter. Fundsmith LLP acquired a new position in shares of Doximity during the fourth quarter valued at about $37,934,000. Canada Pension Plan Investment Board raised its position in Doximity by 199.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 122,000 shares of the company’s stock worth $6,514,000 after purchasing an additional 81,300 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Doximity by 62.6% in the fourth quarter. Teacher Retirement System of Texas now owns 113,025 shares of the company’s stock worth $6,034,000 after purchasing an additional 43,531 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $60.44 on Friday. The business has a fifty day moving average price of $56.04 and a two-hundred day moving average price of $58.68. The stock has a market capitalization of $11.35 billion, a PE ratio of 60.44, a P/E/G ratio of 4.10 and a beta of 1.33. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. On average, equities analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOCS. KeyCorp decreased their price objective on shares of Doximity from $83.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Mizuho cut their target price on shares of Doximity from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 16th. The Goldman Sachs Group set a $50.00 target price on shares of Doximity and gave the stock a “neutral” rating in a report on Wednesday, May 21st. Needham & Company LLC dropped their price objective on shares of Doximity from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Doximity from $63.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.11.

Insiders Place Their Bets

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $52.89, for a total value of $105,780.00. Following the transaction, the director now owns 16,618 shares in the company, valued at $878,926.02. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction 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. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock valued at $2,900,770 in the last ninety days. 37.40% of the stock is currently owned by insiders.

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.