Capricorn Fund Managers Ltd Buys New Position in Doximity, Inc. $DOCS

Capricorn Fund Managers Ltd purchased a new stake in Doximity, Inc. (NASDAQ:DOCS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 76,738 shares of the company’s stock, valued at approximately $5,613,000. Doximity makes up 1.9% of Capricorn Fund Managers Ltd’s portfolio, making the stock its 20th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. lifted its position in shares of Doximity by 11.9% in the 1st quarter. Raymond James Financial Inc. now owns 194,809 shares of the company’s stock worth $11,305,000 after purchasing an additional 20,717 shares during the period. Wellington Management Group LLP increased its position in shares of Doximity by 74.9% during the first quarter. Wellington Management Group LLP now owns 11,639 shares of the company’s stock valued at $675,000 after buying an additional 4,983 shares during the period. Smartleaf Asset Management LLC raised its stake in Doximity by 176.0% in the first quarter. Smartleaf Asset Management LLC now owns 781 shares of the company’s stock worth $46,000 after buying an additional 498 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Doximity by 2.6% in the first quarter. MetLife Investment Management LLC now owns 74,402 shares of the company’s stock worth $4,318,000 after buying an additional 1,862 shares during the period. Finally, Ieq Capital LLC boosted its position in Doximity by 16.9% during the 1st quarter. Ieq Capital LLC now owns 64,190 shares of the company’s stock valued at $3,725,000 after acquiring an additional 9,297 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Regina M. Benjamin sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $70.84, for a total value of $354,200.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at $1,405,394.76. The trade was a 20.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at $1,318,103.16. This trade represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 31.30% of the stock is currently owned by insiders.

Doximity Trading Down 0.2%

Doximity stock opened at $43.70 on Friday. Doximity, Inc. has a 12 month low of $43.25 and a 12 month high of $85.21. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 4.10 and a beta of 1.38. The business’s fifty day simple moving average is $52.92 and its two-hundred day simple moving average is $60.66.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on DOCS shares. The Goldman Sachs Group set a $64.00 target price on Doximity and gave the stock a “sell” rating in a research report on Wednesday, October 1st. BMO Capital Markets began coverage on Doximity in a report on Thursday, November 13th. They issued a “market perform” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. reissued an “underweight” rating and set a $62.00 price objective on shares of Doximity in a research report on Friday, October 10th. KeyCorp upped their target price on shares of Doximity from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Morgan Stanley upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $62.00 to $65.00 in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.94.

About Doximity

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.