Raymond James Financial Services Advisors Inc. Grows Stake in Doximity, Inc. (NASDAQ:DOCS)

Raymond James Financial Services Advisors Inc. raised its stake in Doximity, Inc. (NASDAQ:DOCS) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,247 shares of the company’s stock after acquiring an additional 3,978 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Doximity were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Doximity in the fourth quarter valued at about $721,000. Yarbrough Capital LLC purchased a new position in Doximity in the fourth quarter valued at about $240,000. Creative Financial Designs Inc. ADV boosted its stake in Doximity by 16.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,301 shares of the company’s stock valued at $93,000 after acquiring an additional 473 shares during the last quarter. Renaissance Capital LLC boosted its stake in Doximity by 26.6% in the fourth quarter. Renaissance Capital LLC now owns 76,507 shares of the company’s stock valued at $2,145,000 after acquiring an additional 16,077 shares during the last quarter. Finally, Apella Capital LLC purchased a new position in Doximity in the fourth quarter valued at about $1,098,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Doximity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.97, for a total value of $67,425.00. Following the transaction, the director now owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 39.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Doximity from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, March 15th. Barclays assumed coverage on shares of Doximity in a research report on Wednesday, January 3rd. They issued an “equal weight” rating and a $31.00 price target on the stock. Truist Financial boosted their price target on shares of Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Bank of America boosted their price target on shares of Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. Finally, Evercore ISI reissued an “in-line” rating and issued a $30.00 price target on shares of Doximity in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Doximity currently has an average rating of “Hold” and an average target price of $28.82.

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $25.18 on Thursday. The company’s fifty day moving average price is $27.68 and its 200-day moving average price is $26.08. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 3.20 and a beta of 1.17. Doximity, Inc. has a one year low of $19.71 and a one year high of $37.10.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $135.28 million for the quarter, compared to analyst estimates of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. As a group, equities research analysts expect that Doximity, Inc. will post 0.72 EPS for the current year.

About Doximity

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.