Rockland Trust Co. Invests $257,000 in Doximity, Inc. (NASDAQ:DOCS)

Rockland Trust Co. bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,892 shares of the company’s stock, valued at approximately $257,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Apella Capital LLC grew its holdings in shares of Doximity by 15.0% during the third quarter. Apella Capital LLC now owns 62,767 shares of the company’s stock worth $2,730,000 after purchasing an additional 8,178 shares during the last quarter. Alternative Investment Advisors LLC. acquired a new position in Doximity during the second quarter worth approximately $365,000. Cim LLC acquired a new position in Doximity during the second quarter worth approximately $1,955,000. Sanctuary Advisors LLC purchased a new stake in Doximity in the second quarter valued at approximately $270,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock valued at $163,709,000 after acquiring an additional 387,200 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Activity

In related news, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $28.22, for a total value of $54,746.80. Following the sale, the director now directly owns 12,269 shares in the company, valued at $346,231.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the transaction, the director now directly owns 12,269 shares in the company, valued at $346,231.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,451 shares of company stock worth $1,201,018 over the last 90 days. 39.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Needham & Company LLC upgraded shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Friday, August 9th. Robert W. Baird raised their price target on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Baird R W raised Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their target price on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.42.

Doximity Stock Performance

DOCS stock traded up $0.46 during trading on Friday, reaching $43.83. 785,642 shares of the company were exchanged, compared to its average volume of 1,709,874. The stock’s 50 day moving average price is $36.03 and its 200 day moving average price is $30.00. Doximity, Inc. has a 52-week low of $19.89 and a 52-week high of $43.99. The company has a market cap of $8.13 billion, a P/E ratio of 60.88, a PEG ratio of 5.80 and a beta of 1.29.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $119.88 million. As a group, equities research analysts forecast that Doximity, Inc. will post 0.8 EPS for the current year.

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.