Smith Group Asset Management LLC Grows Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Smith Group Asset Management LLC increased its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 38.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,940 shares of the company’s stock after purchasing an additional 2,780 shares during the period. Smith Group Asset Management LLC’s holdings in Doximity were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in shares of Doximity during the 1st quarter valued at about $27,000. Blue Trust Inc. raised its position in Doximity by 621.4% during the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,193 shares in the last quarter. Quarry LP lifted its holdings in Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after acquiring an additional 131,253 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Doximity in the 1st quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Doximity by 80.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock worth $48,000 after purchasing an additional 760 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, August 9th. Evercore ISI increased their price target on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and cut their price objective 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, seven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Doximity has an average rating of “Hold” and a consensus target price of $35.83.

Doximity Stock Up 0.4 %

Shares of NASDAQ DOCS opened at $41.42 on Tuesday. The firm has a 50-day simple moving average of $40.21 and a 200-day simple moving average of $31.97. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 57.53, a price-to-earnings-growth ratio of 5.29 and a beta of 1.29. Doximity, Inc. has a 52 week low of $19.89 and a 52 week high of $44.88.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data 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 company had revenue of $126.68 million during the quarter, compared to the consensus estimate of $119.88 million. As a group, equities research analysts expect 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 on 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 sale, the director now directly owns 11,258 shares of the company’s stock, valued at $287,529.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Watkin Phoebe L. Yang sold 1,011 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 11,258 shares of the company’s stock, valued at $287,529.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $28.18, for a total transaction of $70,450.00. Following the sale, the director now directly owns 10,258 shares in the company, valued at approximately $289,070.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,511 shares of company stock valued at $1,146,271. Insiders own 39.40% of the company’s stock.

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.