M&T Bank Corp Boosts Stake in Doximity, Inc. (NASDAQ:DOCS)

M&T Bank Corp raised its holdings in Doximity, Inc. (NASDAQ:DOCS) by 33.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,521 shares of the company’s stock after buying an additional 2,920 shares during the period. M&T Bank Corp’s holdings in Doximity were worth $669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DOCS. QSV Equity Investors LLC boosted its holdings in Doximity by 0.3% during the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company’s stock worth $3,244,000 after buying an additional 186 shares in the last quarter. Amalgamated Bank raised its stake in Doximity by 0.3% during the first quarter. Amalgamated Bank now owns 60,928 shares of the company’s stock worth $3,536,000 after purchasing an additional 186 shares during the period. Spire Wealth Management lifted its holdings in shares of Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company’s stock valued at $36,000 after acquiring an additional 260 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Doximity by 3.9% during the 4th quarter. Corient Private Wealth LLC now owns 8,887 shares of the company’s stock valued at $474,000 after acquiring an additional 334 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Doximity by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 53,940 shares of the company’s stock valued at $2,880,000 after acquiring an additional 340 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

DOCS stock opened at $61.64 on Wednesday. The firm has a market cap of $11.58 billion, a PE ratio of 61.64, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a one year low of $25.00 and a one year high of $85.21. The firm’s fifty day moving average is $57.33 and its 200 day moving average is $59.23.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOCS. Raymond James Financial reduced their target price on shares of Doximity from $83.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Truist Financial lowered their price objective on shares of Doximity from $58.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, May 16th. Morgan Stanley decreased their target price on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. William Blair reissued an “outperform” rating on shares of Doximity in a research report on Friday, May 16th. Finally, Evercore ISI raised shares of Doximity from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $70.00 in a report on Wednesday, July 9th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.42.

Insider Buying and Selling at Doximity

In other Doximity news, Director Regina M. Benjamin sold 10,000 shares of Doximity stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director directly owned 16,618 shares of the company’s stock, valued at $997,080. The trade was a 37.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director directly owned 6,360 shares in the company, valued at $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,000 shares of company stock valued at $4,400,970. Corporate insiders own 37.40% of the company’s stock.

Doximity Company 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.