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

Engineers Gate Manager LP boosted its holdings in Doximity, Inc. (NYSE:DOCS) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 285,198 shares of the company’s stock after purchasing an additional 39,223 shares during the period. Engineers Gate Manager LP owned about 0.16% of Doximity worth $5,915,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DOCS. Royal Bank of Canada grew its holdings in Doximity by 24.2% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Doximity by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after purchasing an additional 210 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Doximity by 613.7% in the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after acquiring an additional 5,437 shares during the period. Goldman Sachs Group Inc. increased its position in Doximity by 33.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after purchasing an additional 63,873 shares during the period. Finally, Focus Partners Wealth purchased a new stake in Doximity in the first quarter worth about $283,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Trading Up 3.8%

Shares of NYSE:DOCS opened at $25.66 on Friday. Doximity, Inc. has a twelve month low of $17.15 and a twelve month high of $76.51. The company has a market cap 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. The company’s 50 day moving average is $23.69 and its 200 day moving average is $23.09.

Doximity (NYSE:DOCS) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.13. The firm had revenue of $156.62 million during the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. Equities research analysts predict that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DOCS has been the topic of a number of recent research reports. Citigroup cut Doximity to an “underperform” rating in a research note on Monday, June 29th. BMO Capital Markets reiterated a “market perform” rating and issued a $30.00 price objective on shares of Doximity in a research note on Friday, August 7th. Barclays raised their price objective on Doximity from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Doximity in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $27.00 price target on shares of Doximity in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.18.

Insider Activity

In other news, Director Kira Wampler sold 2,000 shares of the company’s 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 transaction, the director directly owned 19,839 shares of the company’s stock, valued at $494,983.05. This represents a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Cabral sold 7,500 shares of Doximity stock in a transaction on Friday, August 7th. The shares were sold at an average price of $39.11, for a total transaction of $293,325.00. Following the completion of the sale, the director directly owned 3,221 shares in the company, valued at $125,973.31. This represents a 69.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,270 shares of company stock worth $387,369 over the last three months. 31.80% of the stock is currently owned by corporate insiders.

About Doximity

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.