Renaissance Technologies LLC Purchases 301,100 Shares of Doximity, Inc. (NASDAQ:DOCS)

Renaissance Technologies LLC lifted its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 23.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,603,202 shares of the company’s stock after purchasing an additional 301,100 shares during the period. Renaissance Technologies LLC owned about 0.86% of Doximity worth $44,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC grew its holdings in Doximity by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after acquiring an additional 873,682 shares during the last quarter. Swedbank AB bought a new stake in shares of Doximity in the first quarter worth $91,673,000. Janus Henderson Group PLC grew its stake in shares of Doximity by 33.5% in the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after purchasing an additional 621,590 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in Doximity by 15.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock valued at $64,555,000 after purchasing an additional 301,290 shares during the period. Finally, Capital World Investors raised its position in Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after purchasing an additional 1,225,707 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

DOCS stock opened at $40.06 on Thursday. The company’s 50-day moving average is $32.93 and its 200-day moving average is $28.91. The stock has a market capitalization of $7.43 billion, a PE ratio of 55.64, a price-to-earnings-growth ratio of 5.15 and a beta of 1.27. Doximity, Inc. has a 1 year low of $19.71 and a 1 year high of $40.99.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The business had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. On average, analysts anticipate that Doximity, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,011 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.54, for a total transaction of $25,820.94. Following the completion of the sale, the director now owns 11,258 shares in the company, valued at approximately $287,529.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total value of $54,746.80. Following the transaction, the director now owns 12,269 shares in the company, valued at $346,231.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the sale, the director now owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. The disclosure for this sale can be found here. Insiders have sold a total of 37,951 shares of company stock worth $1,271,018 in the last ninety days. Corporate insiders own 39.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, August 9th. Morgan Stanley increased their target price on shares of Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Evercore ISI raised their price target on shares of Doximity from $29.00 to $34.00 and gave the stock an “in-line” rating in a report on Friday, August 9th. Bank of America upped their price objective on shares of Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Barclays lifted their target price on shares of Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of “Hold” and a consensus price target of $32.42.

Doximity Company 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.