Edgestream Partners L.P. Buys 38,540 Shares of Doximity, Inc. $DOCS

Edgestream Partners L.P. raised its stake in Doximity, Inc. (NASDAQ:DOCS) by 92.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,114 shares of the company’s stock after acquiring an additional 38,540 shares during the quarter. Edgestream Partners L.P.’s holdings in Doximity were worth $4,914,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position in shares of Doximity by 148.9% in the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock valued at $28,000 after purchasing an additional 271 shares during the last quarter. National Bank of Canada FI bought a new stake in Doximity in the 1st quarter valued at $33,000. Brooklyn Investment Group grew its holdings in Doximity by 70.7% in the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company’s stock valued at $43,000 after buying an additional 309 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Doximity by 176.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 781 shares of the company’s stock worth $46,000 after buying an additional 498 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in Doximity by 29.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,427 shares of the company’s stock worth $88,000 after buying an additional 327 shares during the period. Institutional investors own 87.19% of the company’s stock.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the transaction, the director owned 3,221 shares in the company, valued at approximately $241,575. The trade was a 86.13% 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 Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $66.44, for a total transaction of $132,880.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at approximately $1,318,103.16. This represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,000 shares of company stock valued at $2,339,580 over the last quarter. 31.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated an “underweight” rating and issued a $62.00 price target on shares of Doximity in a research note on Friday, October 10th. Robert W. Baird increased their target price on shares of Doximity from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. Zacks Research downgraded shares of Doximity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Canaccord Genuity Group reduced their price target on Doximity from $67.00 to $58.00 and set a “hold” rating on the stock in a research report on Monday, November 10th. Finally, The Goldman Sachs Group set a $64.00 price objective on Doximity and gave the stock a “sell” rating in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.22.

Doximity Stock Down 1.1%

Doximity stock opened at $50.51 on Wednesday. The business’s 50-day moving average price is $62.29 and its two-hundred day moving average price is $61.78. The stock has a market cap of $9.51 billion, a PE ratio of 50.51, a P/E/G ratio of 4.10 and a beta of 1.36. Doximity, Inc. has a 12-month low of $46.04 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current year.

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.