Jefferies Financial Group Inc. Acquires 28,058 Shares of Doximity, Inc. $DOCS

Jefferies Financial Group Inc. boosted its stake in Doximity, Inc. (NASDAQ:DOCS) by 150.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,658 shares of the company’s stock after purchasing an additional 28,058 shares during the period. Jefferies Financial Group Inc.’s holdings in Doximity were worth $3,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Doximity by 24.2% in the 1st quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after buying an additional 20,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after acquiring an additional 210 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Doximity by 613.7% during the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after acquiring an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Doximity by 33.3% in the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after acquiring an additional 63,873 shares during the period. Finally, Focus Partners Wealth acquired a new position in shares of Doximity in the first quarter worth approximately $283,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on DOCS. Raymond James Financial reissued a “strong-buy” rating on shares of Doximity in a research report on Monday, December 29th. Canaccord Genuity Group set a $34.00 price target on shares of Doximity and gave the stock a “buy” rating in a research report on Monday, February 9th. Wells Fargo & Company reduced their price objective on shares of Doximity from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Piper Sandler increased their price objective on shares of Doximity from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Finally, Mizuho lowered their target price on shares of Doximity from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Insider Transactions at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at approximately $515,814. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 31.30% of the company’s stock.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $24.81 on Wednesday. Doximity, Inc. has a 52-week low of $23.53 and a 52-week high of $76.51. The business’s 50 day simple moving average is $33.80 and its two-hundred day simple moving average is $51.01. The firm has a market cap of $4.58 billion, a P/E ratio of 24.81, a PEG ratio of 4.10 and a beta of 1.44.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter in the prior year, the business earned $0.45 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Doximity declared that its board has authorized a share repurchase plan on Thursday, February 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are 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.