Arizona State Retirement System Boosts Stake in Doximity, Inc. (NASDAQ:DOCS)

Arizona State Retirement System boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,779 shares of the company’s stock after acquiring an additional 725 shares during the period. Arizona State Retirement System’s holdings in Doximity were worth $861,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Convergence Investment Partners LLC purchased a new position in shares of Doximity during the 2nd quarter worth $358,000. Natixis Advisors LLC raised its stake in Doximity by 13.7% during the second quarter. Natixis Advisors LLC now owns 22,171 shares of the company’s stock worth $620,000 after purchasing an additional 2,675 shares during the period. nVerses Capital LLC acquired a new position in Doximity in the 2nd quarter valued at about $215,000. Van ECK Associates Corp grew its stake in shares of Doximity by 19.7% in the 2nd quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock valued at $72,000 after buying an additional 427 shares during the period. Finally, iA Global Asset Management Inc. increased its holdings in shares of Doximity by 36.5% during the 2nd quarter. iA Global Asset Management Inc. now owns 44,683 shares of the company’s stock worth $1,250,000 after buying an additional 11,946 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Trading Up 2.9 %

Shares of NASDAQ DOCS opened at $39.32 on Friday. The stock has a market cap of $7.30 billion, a P/E ratio of 54.61, a P/E/G ratio of 5.15 and a beta of 1.27. The stock has a 50 day moving average of $32.16 and a two-hundred day moving average of $28.67. Doximity, Inc. has a twelve month low of $19.71 and a twelve month high of $39.69.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) 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 firm had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. As a group, research analysts predict that Doximity, Inc. will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction that occurred on Friday, August 9th. The stock was 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 directly owns 309,627 shares in the company, valued at $10,836,945. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $28.00, for a total transaction of $70,000.00. Following the sale, the director now owns 10,258 shares of the company’s stock, valued at approximately $287,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the completion of the sale, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The disclosure for this sale can be found here. Insiders sold 37,951 shares of company stock valued at $1,271,018 over the last ninety days. Corporate insiders own 39.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley upped 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. Truist Financial reaffirmed a “hold” rating and set a $35.00 price objective (up previously from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Friday, August 9th. Bank of America raised their price target on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $27.00 to $19.00 in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.27.

About Doximity

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.