Allworth Financial LP Grows Stake in Doximity, Inc. (NASDAQ:DOCS)

Allworth Financial LP lifted its stake in Doximity, Inc. (NASDAQ:DOCS) by 104.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 563 shares of the company’s stock after purchasing an additional 287 shares during the quarter. Allworth Financial LP’s holdings in Doximity were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Spire Wealth Management lifted its position in Doximity by 73.2% in 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. Optimum Investment Advisors purchased a new position in shares of Doximity in the fourth quarter worth $43,000. Kapitalo Investimentos Ltda bought a new position in shares of Doximity during the fourth quarter valued at $50,000. Huntington National Bank lifted its holdings in shares of Doximity by 1,440.8% during the fourth quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $58,000 after purchasing an additional 1,023 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Doximity by 128.0% during the first quarter. UMB Bank n.a. now owns 1,311 shares of the company’s stock valued at $76,000 after buying an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Activity

In related news, Director Regina M. Benjamin sold 10,000 shares of the 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 completion of the sale, the director owned 16,618 shares in the company, valued at approximately $997,080. This trade represents a 37.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the director directly owned 6,360 shares in the company, valued at $381,600. This trade represents a 61.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,000 shares of company stock worth $4,400,970. 37.40% of the stock is currently owned by corporate insiders.

Doximity Stock Down 2.5%

DOCS stock opened at $60.07 on Friday. The business’s 50-day moving average price is $57.47 and its 200-day moving average price is $59.36. The stock has a market cap of $11.28 billion, a P/E ratio of 60.07, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a twelve month low of $25.00 and a twelve month high of $85.21.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities research analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Evercore ISI raised Doximity from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $70.00 in a research report on Wednesday, July 9th. BTIG Research raised shares of Doximity from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Monday, June 2nd. William Blair restated an “outperform” rating on shares of Doximity in a research report on Friday, May 16th. Bank of America raised their target price on shares of Doximity from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Finally, Mizuho decreased their target price on shares of Doximity from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 16th. Ten investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.89.

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.