78,250 Shares in Doximity, Inc. $DOCS Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH bought a new stake in Doximity, Inc. (NASDAQ:DOCS) during the 3rd quarter, HoldingsChannel reports. The firm bought 78,250 shares of the company’s stock, valued at approximately $5,724,000.

A number of other institutional investors have also bought and sold shares of DOCS. Hantz Financial Services Inc. raised its position in shares of Doximity by 148.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock worth $28,000 after acquiring an additional 271 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Doximity during the third quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Doximity by 59.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 179 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in Doximity by 150.0% in the third quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 300 shares during the period. Finally, Atlantic Union Bankshares Corp lifted its stake in Doximity by 136.9% in the third quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock valued at $45,000 after buying an additional 356 shares during the period. Institutional investors own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DOCS shares. The Goldman Sachs Group reduced their price objective on shares of Doximity from $46.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday. Wells Fargo & Company cut their target price on shares of Doximity from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday. Raymond James Financial restated a “strong-buy” rating on shares of Doximity in a report on Monday, December 29th. Canaccord Genuity Group set a $34.00 price target on shares of Doximity and gave the company a “buy” rating in a research note on Monday. Finally, BTIG Research cut their price objective on shares of Doximity from $80.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $27.28 on Wednesday. The company has a 50-day moving average price of $41.75 and a 200-day moving average price of $56.18. The stock has a market capitalization of $5.14 billion, a P/E ratio of 27.28, a P/E/G ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a 1 year low of $23.66 and a 1 year high of $80.25.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Doximity announced that its Board of Directors has initiated a stock buyback program on Thursday, February 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.