Engineers Gate Manager LP Boosts Position in Doximity, Inc. $DOCS

Engineers Gate Manager LP boosted its position in shares of Doximity, Inc. (NYSE:DOCS) by 15.9% during the second quarter, Holdings Channel.com reports. The firm owned 285,198 shares of the company’s stock after buying an additional 39,223 shares during the quarter. Engineers Gate Manager LP’s holdings in Doximity were worth $5,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DOCS. Northwestern Mutual Wealth Management Co. lifted its position in Doximity by 99.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after buying an additional 397 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Doximity in the 3rd quarter valued at approximately $111,000. Leonteq Securities AG purchased a new stake in Doximity in the fourth quarter valued at approximately $78,000. Kestra Advisory Services LLC purchased a new stake in Doximity in the fourth quarter valued at approximately $87,000. Finally, McMillan Office Inc. acquired a new position in Doximity during the fourth quarter worth $95,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore set a $40.00 price target on Doximity in a research report on Friday, August 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $30.00 price objective on shares of Doximity in a report on Friday, August 7th. Citigroup lowered Doximity to an “underperform” rating in a research note on Monday, June 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Doximity in a report on Wednesday, August 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 target price (up from $42.00) on shares of Doximity in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Hold” and an average price target of $32.18.

Doximity Stock Up 3.8%

NYSE DOCS opened at $25.66 on Friday. Doximity, Inc. has a 52 week low of $17.15 and a 52 week high of $76.51. The firm has a 50 day moving average of $23.69 and a two-hundred day moving average of $23.09. The stock has a market capitalization of $4.57 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 19.33 and a beta of 1.25.

Doximity (NYSE:DOCS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The company had revenue of $156.62 million for the quarter. During the same period in the previous year, the business posted $0.36 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Doximity news, Director Kira Wampler sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $24.95, for a total transaction of $49,900.00. Following the completion of the sale, the director directly owned 19,839 shares of the company’s stock, valued at approximately $494,983.05. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy S. Cabral sold 7,500 shares of Doximity stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $39.11, for a total value of $293,325.00. Following the completion of the transaction, the director owned 3,221 shares in the company, valued at $125,973.31. This trade represents a 69.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,270 shares of company stock valued at $387,369. Insiders own 31.80% of the company’s stock.

Doximity Company Profile

Doximity, Inc operates a digital platform for U.S. medical professionals. Its network enables physicians and other healthcare providers to communicate, collaborate, access medical news and research, maintain professional profiles, and connect with colleagues and patients.

The company offers a range of tools for healthcare organizations and professionals, including telehealth services, digital faxing, scheduling and communication products, and solutions for recruiting and marketing. Doximity also provides pharmaceutical and healthcare companies with digital engagement services designed to reach medical professionals through its platform.

Founded in 2010, Doximity is headquartered in San Francisco and primarily serves the United States healthcare market.