Sanctuary Advisors LLC Buys New Position in Doximity, Inc. (NASDAQ:DOCS)

Sanctuary Advisors LLC bought a new stake in Doximity, Inc. (NASDAQ:DOCS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,659 shares of the company’s stock, valued at approximately $270,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Blair William & Co. IL lifted its stake in Doximity by 31.7% in the first quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock valued at $2,438,000 after buying an additional 21,787 shares during the period. Federated Hermes Inc. raised its position in shares of Doximity by 1,824.5% during the second quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock worth $7,821,000 after purchasing an additional 265,104 shares during the period. AXA S.A. raised its position in shares of Doximity by 40.2% during the second quarter. AXA S.A. now owns 216,392 shares of the company’s stock worth $6,052,000 after purchasing an additional 61,992 shares during the period. Acadian Asset Management LLC raised its position in shares of Doximity by 128.7% during the first quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock worth $2,590,000 after purchasing an additional 54,281 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Doximity by 15,714.3% during the second quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company’s stock worth $310,000 after buying an additional 11,000 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DOCS has been the subject of several recent research reports. Canaccord Genuity Group upped their price target on Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Bank of America upped their price target on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Robert W. Baird upped 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. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Finally, Morgan Stanley upped their price objective on Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Doximity has a consensus rating of “Hold” and an average target price of $35.83.

Doximity Stock Performance

DOCS stock opened at $43.50 on Friday. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 60.42, a PEG ratio of 5.29 and a beta of 1.29. Doximity, Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $44.88. The stock has a fifty day moving average of $39.47 and a 200-day moving average of $31.27.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, August 8th. The company reported $0.22 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 during the quarter, compared to the consensus estimate of $119.88 million. Equities analysts predict that Doximity, Inc. will post 0.8 EPS for the current year.

Insiders Place Their Bets

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,011 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the transaction, the director now owns 11,258 shares in the company, valued at $287,529.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Doximity news, Director Watkin Phoebe L. Yang sold 1,011 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the transaction, the director now owns 11,258 shares in the company, valued at $287,529.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $28.18, for a total value of $70,450.00. Following the completion of the transaction, the director now owns 10,258 shares of the company’s stock, valued at approximately $289,070.44. This 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 in the last quarter. 39.40% of the stock is owned by company insiders.

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.