Edge Wealth Management LLC Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Edge Wealth Management LLC purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,647 shares of the company’s stock, valued at approximately $202,000.

Several other large investors also recently modified their holdings of DOCS. William Blair Investment Management LLC boosted its holdings in Doximity by 15.8% in the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after purchasing an additional 873,682 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after acquiring an additional 387,200 shares during the last quarter. Swedbank AB bought a new stake in shares of Doximity during the 1st quarter worth $91,673,000. Janus Henderson Group PLC lifted its stake in 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. Finally, Capital World Investors lifted its stake in Doximity by 250.7% in the first 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. 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 1,011 shares of Doximity stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now directly owns 11,258 shares in the company, valued at $287,529.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction dated 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 directly owns 309,627 shares in the company, valued at $10,836,945. 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. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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 $287,529.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,451 shares of company stock valued at $1,201,018 in the last ninety days. 39.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DOCS has been the topic of a number of analyst reports. Bank of America boosted their price objective on shares of Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Canaccord Genuity Group upped their target price on shares of Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Baird R W upgraded shares of Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Robert W. Baird upped their target price on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, Truist Financial reissued a “hold” rating and issued a $35.00 price objective (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.83.

Doximity Trading Up 4.5 %

NASDAQ DOCS traded up $1.87 during trading hours on Tuesday, reaching $43.83. The company had a trading volume of 2,205,331 shares, compared to its average volume of 1,705,213. The stock has a market capitalization of $8.13 billion, a P/E ratio of 58.26, a price-to-earnings-growth ratio of 5.29 and a beta of 1.29. Doximity, Inc. has a 1-year low of $19.89 and a 1-year high of $44.88. The stock has a 50-day moving average of $38.24 and a 200 day moving average of $30.81.

Doximity (NASDAQ:DOCS) last released its 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 net margin of 32.53% and a return on equity of 19.26%. The firm had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. As a group, sell-side analysts predict that Doximity, Inc. will post 0.8 EPS for the current year.

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.