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

Lmcg Investments LLC lifted its holdings in Doximity, Inc. (NASDAQ:DOCS) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,435 shares of the company’s stock after buying an additional 7,608 shares during the quarter. Lmcg Investments LLC owned approximately 0.08% of Doximity worth $6,642,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. William Blair Investment Management LLC grew its position in shares of Doximity by 15.8% in the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after buying an additional 873,682 shares during the period. Clearbridge Investments LLC grew its position in shares of Doximity by 7.1% in the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after buying an additional 387,200 shares during the period. Swedbank AB purchased a new stake in shares of Doximity in the 1st quarter worth about $91,673,000. Janus Henderson Group PLC grew its position in Doximity by 33.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock valued at $66,594,000 after purchasing an additional 621,590 shares during the last quarter. Finally, Capital World Investors grew its position in Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock valued at $46,143,000 after purchasing an additional 1,225,707 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Trading Up 1.5 %

Shares of DOCS stock traded up $0.61 on Friday, reaching $42.35. The company’s stock had a trading volume of 904,567 shares, compared to its average volume of 1,664,369. The stock’s fifty day simple moving average is $40.66 and its 200-day simple moving average is $32.33. Doximity, Inc. has a 1 year low of $20.28 and a 1 year high of $44.88. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 5.05 and a beta of 1.29.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DOCS. Wells Fargo & Company downgraded shares of Doximity from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $27.00 to $19.00 in a report on Thursday, July 18th. Evercore ISI raised their target price on shares of Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Robert W. Baird raised 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, September 17th. JPMorgan Chase & Co. raised their target price 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. Finally, Canaccord Genuity Group raised 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. Two research analysts have rated the stock with a sell rating, seven have given 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, the company presently has an average rating of “Hold” and an average target price of $36.42.

Insiders Place Their Bets

In other Doximity 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 transaction of $25,820.94. Following the completion of the transaction, the director now directly owns 11,258 shares of the company’s stock, valued at $287,529.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a 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 Doximity stock in a transaction on 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 directly owns 11,258 shares in the company, valued at approximately $287,529.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief financial officer now owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is owned by insiders.

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.