Edgestream Partners L.P. Has $4.91 Million Holdings in Doximity, Inc. $DOCS

Edgestream Partners L.P. raised its position in Doximity, Inc. (NASDAQ:DOCS) by 92.7% during the second quarter, Holdings Channel reports. The firm owned 80,114 shares of the company’s stock after purchasing an additional 38,540 shares during the period. Edgestream Partners L.P.’s holdings in Doximity were worth $4,914,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DOCS. Hantz Financial Services Inc. increased its position in shares of Doximity by 148.9% during the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock worth $28,000 after buying an additional 271 shares during the period. National Bank of Canada FI bought a new stake in Doximity during the first quarter valued at $33,000. Brooklyn Investment Group grew its holdings in Doximity by 70.7% during the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company’s stock worth $43,000 after acquiring an additional 309 shares during the period. Smartleaf Asset Management LLC grew its holdings in Doximity by 176.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 781 shares of the company’s stock worth $46,000 after acquiring an additional 498 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in shares of Doximity by 29.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,427 shares of the company’s stock worth $88,000 after acquiring an additional 327 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity Stock Down 1.1%

NASDAQ DOCS opened at $50.51 on Wednesday. Doximity, Inc. has a 52 week low of $46.04 and a 52 week high of $85.21. The business has a 50 day moving average price of $62.29 and a 200-day moving average price of $61.78. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 50.51, a P/E/G ratio of 4.10 and a beta of 1.36.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period in the prior year, the company posted $0.30 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the director owned 3,221 shares in the company, valued at $241,575. This trade represents a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $70.84, for a total value of $354,200.00. Following the transaction, the director directly owned 19,839 shares in the company, valued at approximately $1,405,394.76. The trade was a 20.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,000 shares of company stock valued at $2,339,580 over the last three months. Corporate insiders own 31.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James Financial upgraded Doximity from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $75.00 to $65.00 in a research report on Friday, November 21st. Evercore ISI reduced their price objective on shares of Doximity from $81.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Robert W. Baird lifted their price objective on shares of Doximity from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, September 11th. KeyCorp boosted their target price on shares of Doximity from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $64.00 target price on shares of Doximity and gave the stock a “sell” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and an average target price of $68.22.

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.