iA Global Asset Management Inc. Buys 7,208 Shares of Doximity, Inc. (NASDAQ:DOCS)

iA Global Asset Management Inc. grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 28.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,737 shares of the company’s stock after buying an additional 7,208 shares during the period. iA Global Asset Management Inc.’s holdings in Doximity were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Doximity during the fourth quarter valued at approximately $35,995,000. Blair William & Co. IL raised its position in shares of Doximity by 31.7% during the first quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock valued at $2,438,000 after buying an additional 21,787 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of Doximity by 15.1% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock valued at $64,555,000 after buying an additional 301,290 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Doximity in the fourth quarter worth $2,845,000. Finally, Acadian Asset Management LLC increased its position in Doximity by 128.7% in the first quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock worth $2,590,000 after purchasing an additional 54,281 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $27.22, for a total transaction of $68,050.00. Following the completion of the sale, the director now directly owns 10,258 shares of the company’s stock, valued at $279,222.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $27.22, for a total value of $68,050.00. Following the completion of the sale, the director now directly owns 10,258 shares of the company’s stock, valued at $279,222.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the sale, the director now directly owns 12,269 shares of the company’s stock, valued at $346,231.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,440 shares of company stock valued at $1,428,572. 39.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOCS. Wells Fargo & Company cut shares of Doximity from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. William Blair restated an “outperform” rating on shares of Doximity in a research report on Friday, May 17th. Morgan Stanley restated an “underweight” rating and issued a $25.00 price target on shares of Doximity in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price target on the stock in a research report on Thursday, April 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Doximity in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.00.

Doximity Trading Down 2.2 %

Shares of DOCS traded down $0.61 during trading hours on Thursday, reaching $27.39. 1,126,970 shares of the company traded hands, compared to its average volume of 1,650,175. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 5.36 and a beta of 1.22. Doximity, Inc. has a 12-month low of $19.71 and a 12-month high of $34.56. The stock’s fifty day moving average price is $28.05 and its 200 day moving average price is $27.45.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, May 16th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $118.06 million during the quarter, compared to analyst estimates of $116.46 million. Doximity had a net margin of 31.04% and a return on equity of 17.44%. On average, research analysts forecast that Doximity, Inc. will post 0.74 earnings per share 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.