LPL Financial LLC Purchases 31,468 Shares of Doximity, Inc. (NASDAQ:DOCS)

LPL Financial LLC raised its position in Doximity, Inc. (NASDAQ:DOCS) by 41.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,225 shares of the company’s stock after acquiring an additional 31,468 shares during the quarter. LPL Financial LLC owned approximately 0.06% of Doximity worth $6,222,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in Doximity in the first quarter valued at about $201,000. Wealth Enhancement Advisory Services LLC increased its position in Doximity by 196.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company’s stock worth $787,000 after buying an additional 8,995 shares in the last quarter. Range Financial Group LLC purchased a new stake in Doximity in the first quarter worth about $916,000. New York State Teachers Retirement System increased its position in Doximity by 10.9% in the first quarter. New York State Teachers Retirement System now owns 113,145 shares of the company’s stock worth $6,566,000 after buying an additional 11,078 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Doximity by 3.3% in the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company’s stock worth $19,698,000 after buying an additional 11,811 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley reduced their price target on Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. BTIG Research upgraded Doximity from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Monday, June 2nd. Raymond James Financial upped their price target on Doximity from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird reduced their price target on Doximity from $87.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. Finally, KeyCorp increased their target price on Doximity from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.21.

Doximity Price Performance

NASDAQ:DOCS opened at $61.82 on Tuesday. Doximity, Inc. has a 1 year low of $34.34 and a 1 year high of $85.21. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 61.82, a PEG ratio of 4.10 and a beta of 1.36. The business has a 50 day simple moving average of $59.41 and a 200-day simple moving average of $60.10.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%. Doximity’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. As a group, analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Friday, August 1st. The stock was sold at an average price of $57.09, for a total value of $114,180.00. Following the transaction, the director directly owned 16,618 shares in the company, valued at approximately $948,721.62. This trade represents a 10.74% decrease in their position. The sale was disclosed in a legal filing 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 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 completion of the transaction, the director owned 6,360 shares in the company, valued at $381,600. This represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock worth $2,140,940 in the last ninety days. 31.30% of the stock is owned by company insiders.

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.