Algert Global LLC Has $12.79 Million Holdings in Doximity, Inc. $DOCS

Algert Global LLC raised its holdings in Doximity, Inc. (NYSE:DOCS) by 20.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,786 shares of the company’s stock after buying an additional 29,414 shares during the period. Algert Global LLC owned about 0.09% of Doximity worth $12,786,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Root Financial Partners LLC acquired a new stake in Doximity during the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Doximity by 59.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 179 shares during the last quarter. Toth Financial Advisory Corp raised its position in shares of Doximity by 150.0% in the third quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Atlantic Union Bankshares Corp raised its position in shares of Doximity by 136.9% in the third quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock valued at $45,000 after purchasing an additional 356 shares during the period. Finally, First Horizon Corp acquired a new stake in shares of Doximity during the 3rd quarter worth about $58,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. Following the transaction, the director owned 19,839 shares in the company, valued at $515,814. The trade was a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Siddharth Sitaram sold 2,319 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $25.37, for a total transaction of $58,833.03. Following the transaction, the insider directly owned 84,132 shares in the company, valued at $2,134,428.84. This trade represents a 2.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,601 shares of company stock valued at $174,455 in the last quarter. 31.30% of the stock is currently owned by company insiders.

Doximity Stock Up 0.4%

Shares of NYSE:DOCS opened at $24.37 on Monday. The firm has a market capitalization of $4.50 billion, a P/E ratio of 20.30, a PEG ratio of 1.37 and a beta of 1.44. Doximity, Inc. has a 52-week low of $23.53 and a 52-week high of $76.51. The business’s fifty day moving average is $32.64.

Doximity (NYSE:DOCS) last announced its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Doximity’s revenue was up 9.8% compared to the same quarter last year.

Doximity announced that its board has approved a stock buyback plan on Thursday, February 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Doximity from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, February 20th. BMO Capital Markets set a $25.00 price target on shares of Doximity in a report on Friday, February 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Doximity in a research report on Wednesday, December 24th. Evercore restated an “outperform” rating on shares of Doximity in a report on Thursday, January 8th. Finally, The Goldman Sachs Group decreased their target price on Doximity from $46.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.