Federated Hermes Inc. Buys 265,104 Shares of Doximity, Inc. (NASDAQ:DOCS)

Federated Hermes Inc. grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 1,824.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 279,634 shares of the company’s stock after purchasing an additional 265,104 shares during the period. Federated Hermes Inc. owned approximately 0.15% of Doximity worth $7,821,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DOCS. Victory Capital Management Inc. boosted its stake in Doximity by 21.3% during the fourth quarter. Victory Capital Management Inc. now owns 32,863 shares of the company’s stock worth $921,000 after acquiring an additional 5,780 shares in the last quarter. Jump Financial LLC bought a new stake in Doximity during the fourth quarter worth about $202,000. Vanguard Personalized Indexing Management LLC bought a new stake in Doximity during the fourth quarter worth about $391,000. Norges Bank bought a new stake in Doximity during the fourth quarter worth about $35,995,000. Finally, Trexquant Investment LP boosted its stake in Doximity by 58.9% during the fourth quarter. Trexquant Investment LP now owns 99,966 shares of the company’s stock worth $2,803,000 after acquiring an additional 37,069 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

Analyst Ratings Changes

DOCS has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Truist Financial reiterated a “hold” rating and issued a $35.00 target price (up previously from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Needham & Company LLC upgraded shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Friday, August 9th. Wells Fargo & Company downgraded shares of Doximity from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th. Finally, Robert W. Baird upped their target price on shares of Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.42.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $28.00, for a total transaction of $70,000.00. Following the completion of the sale, the director now directly owns 10,258 shares of the company’s stock, valued at $287,224. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $28.00, for a total value of $70,000.00. Following the completion of the transaction, the director now directly owns 10,258 shares in the company, valued at $287,224. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 309,627 shares of the company’s stock, valued at $10,836,945. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,951 shares of company stock valued at $1,271,018. Insiders own 39.40% of the company’s stock.

Doximity Stock Up 1.8 %

DOCS opened at $40.16 on Wednesday. The firm has a 50 day moving average price of $32.66 and a 200-day moving average price of $28.84. Doximity, Inc. has a twelve month low of $19.71 and a twelve month high of $40.92. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 55.78, a PEG ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The business had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. As a group, analysts expect that Doximity, Inc. will post 0.8 earnings per share 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.