Envestnet Asset Management Inc. Has $9.34 Million Stake in Doximity, Inc. (NASDAQ:DOCS)

Envestnet Asset Management Inc. lessened its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,873 shares of the company’s stock after selling 2,032 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of Doximity worth $9,335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Spire Wealth Management boosted its stake in shares of Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company’s stock valued at $36,000 after buying an additional 260 shares during the period. Optimum Investment Advisors acquired a new position in Doximity in the 4th quarter valued at $43,000. Kapitalo Investimentos Ltda acquired a new position in Doximity in the 4th quarter valued at $50,000. Huntington National Bank lifted its position in shares of Doximity by 1,440.8% during the 4th quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $58,000 after acquiring an additional 1,023 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Doximity by 128.0% during the 1st quarter. UMB Bank n.a. now owns 1,311 shares of the company’s stock worth $76,000 after purchasing an additional 736 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $52.89, for a total transaction of $105,780.00. Following the completion of the transaction, the director directly owned 16,618 shares in the company, valued at $878,926.02. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $60.04, for a total transaction of $300,200.00. Following the sale, the director directly owned 16,618 shares of the company’s stock, valued at $997,744.72. This represents a 23.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,000 shares of company stock worth $4,400,970. Corporate insiders own 37.40% of the company’s stock.

Doximity Trading Down 2.5%

NASDAQ:DOCS opened at $60.07 on Monday. The stock’s 50-day moving average is $57.47 and its 200-day moving average is $59.44. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21. The stock has a market cap of $11.28 billion, a P/E ratio of 60.07, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping 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%. During the same quarter in the prior year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, equities analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the stock a “neutral” rating in a research report on Wednesday, May 21st. Bank of America upped their price target on shares of Doximity from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Mizuho reduced their price target on shares of Doximity from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 16th. Truist Financial boosted their price objective on shares of Doximity from $52.00 to $61.00 and gave the company a “hold” rating in a research report on Thursday. Finally, KeyCorp upped their target price on Doximity from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Ten research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.