Doximity, Inc. $DOCS Holdings Cut by First Trust Advisors LP

First Trust Advisors LP lowered its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 18.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 596,252 shares of the company’s stock after selling 136,434 shares during the period. First Trust Advisors LP owned about 0.32% of Doximity worth $36,574,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Doximity by 130.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company’s stock worth $114,133,000 after acquiring an additional 1,113,076 shares in the last quarter. Franklin Resources Inc. increased its position in Doximity by 53.9% in the 2nd quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock worth $193,993,000 after purchasing an additional 1,108,162 shares during the last quarter. Vanguard Group Inc. increased its position in Doximity by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company’s stock worth $707,646,000 after purchasing an additional 990,923 shares during the last quarter. Invesco Ltd. raised its stake in shares of Doximity by 54.8% during the 1st quarter. Invesco Ltd. now owns 1,969,326 shares of the company’s stock worth $114,280,000 after purchasing an additional 696,923 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Doximity by 13.8% during the 2nd quarter. William Blair Investment Management LLC now owns 5,219,394 shares of the company’s stock worth $320,158,000 after purchasing an additional 634,927 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Stock Performance

Doximity stock opened at $45.17 on Wednesday. Doximity, Inc. has a 52 week low of $44.98 and a 52 week high of $85.21. The firm has a market capitalization of $8.50 billion, a PE ratio of 45.17, a PEG ratio of 4.10 and a beta of 1.38. The business’s 50-day simple moving average is $59.65 and its 200-day simple moving average is $61.64.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.Doximity’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. Research analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current year.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s 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 of the company’s stock, valued at approximately $241,575. The trade was a 86.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $70.84, for a total transaction of $354,200.00. Following the transaction, the director owned 19,839 shares of the company’s stock, valued at approximately $1,405,394.76. The trade was a 20.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 32,000 shares of company stock worth $2,339,580. Insiders own 31.30% of the company’s stock.

Wall Street Analyst Weigh In

DOCS has been the subject of several recent research reports. Zacks Research cut Doximity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Barclays began coverage on shares of Doximity in a research note on Monday. They issued an “overweight” rating and a $63.00 target price for the company. The Goldman Sachs Group set a $64.00 target price on shares of Doximity and gave the stock a “sell” rating in a research report on Wednesday, October 1st. BMO Capital Markets began coverage on shares of Doximity in a report on Thursday, November 13th. They set a “market perform” rating and a $55.00 price target on the stock. Finally, KeyCorp lifted their price objective on shares of Doximity from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.95.

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.