VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 73,033 Doximity, Inc. $DOCS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Doximity, Inc. (NYSE:DOCS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 73,033 shares of the company’s stock, valued at approximately $1,515,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after buying an additional 397 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Doximity by 111.0% during the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock valued at $60,000 after acquiring an additional 1,347 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Doximity by 937.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock worth $66,000 after acquiring an additional 2,560 shares during the last quarter. Continuum Advisory LLC acquired a new position in Doximity in the 2nd quarter worth about $67,000. Finally, Leonteq Securities AG raised its position in Doximity by 65.6% in the first quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock valued at $68,000 after purchasing an additional 1,154 shares during the last quarter. 87.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Siddharth Sitaram sold 1,770 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $24.94, for a total transaction of $44,143.80. Following the completion of the sale, the chief accounting officer owned 97,004 shares of the company’s stock, valued at $2,419,279.76. This trade represents a 1.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy S. 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 owned 3,221 shares of the company’s stock, 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. Over the last three months, insiders sold 11,270 shares of company stock worth $387,369. 31.80% of the stock is owned by corporate insiders.

Doximity Stock Up 3.8%

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 fifty day moving average of $23.69 and a 200-day moving average of $23.09. The stock 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.

Doximity (NYSE:DOCS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating 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 business had revenue of $156.62 million for the quarter. During the same period last year, the company posted $0.36 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that Doximity, Inc. will post 0.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on DOCS. Citigroup cut Doximity to an “underperform” rating in a report on Monday, June 29th. Barclays upped their price target on shares of Doximity from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 21st. Bank of America reiterated an “underperform” rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a report on Monday, June 29th. Zacks Research raised shares of Doximity from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their target price on Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.18.

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.