Lmcg Investments LLC Raises Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Lmcg Investments LLC boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,827 shares of the company’s stock after purchasing an additional 17,283 shares during the quarter. Lmcg Investments LLC owned approximately 0.08% of Doximity worth $4,051,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DOCS. Victory Capital Management Inc. boosted its position 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 purchasing an additional 5,780 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Doximity in the fourth quarter valued at approximately $202,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Doximity in the fourth quarter valued at approximately $391,000. Norges Bank purchased a new position in shares of Doximity in the fourth quarter valued at approximately $35,995,000. Finally, Trexquant Investment LP lifted its position in shares of Doximity by 58.9% in the fourth quarter. Trexquant Investment LP now owns 99,966 shares of the company’s stock valued at $2,803,000 after acquiring an additional 37,069 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Analysts Set New Price Targets

DOCS has been the topic of several research reports. Morgan Stanley raised their target price on Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, August 9th. Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $27.00 to $19.00 in a report on Thursday, July 18th. Barclays increased their price target on Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Evercore ISI increased their price target on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.27.

Doximity Stock Up 0.3 %

DOCS opened at $39.44 on Tuesday. Doximity, Inc. has a 52 week low of $19.71 and a 52 week high of $39.75. The business has a fifty day simple moving average of $32.40 and a 200-day simple moving average of $28.75. The firm has a market cap of $7.31 billion, a P/E ratio of 54.78, a P/E/G ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last released its quarterly 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 analyst estimates of $119.88 million. Sell-side analysts expect that Doximity, Inc. will post 0.8 earnings per share for the current year.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction 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 transaction, 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 is available at the SEC website. In related news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction 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 transaction, 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 is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction 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 owns 10,258 shares of the company’s stock, valued at $287,224. The disclosure for this sale can be found here. Insiders sold a total of 37,951 shares of company stock worth $1,271,018 over the last ninety days. Company 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.