Trust Point Inc. Grows Stake in Doximity, Inc. (NASDAQ:DOCS)

Trust Point Inc. lifted its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,809 shares of the company’s stock after purchasing an additional 4,163 shares during the period. Trust Point Inc.’s holdings in Doximity were worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after purchasing an additional 412 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Doximity by 19.7% during the second quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after purchasing an additional 427 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in shares of Doximity by 3.2% during the second quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company’s stock worth $479,000 after purchasing an additional 537 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Doximity by 4.5% during the first quarter. Perigon Wealth Management LLC now owns 15,598 shares of the company’s stock worth $420,000 after purchasing an additional 676 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Doximity by 2.4% during the second quarter. Arizona State Retirement System now owns 30,779 shares of the company’s stock worth $861,000 after purchasing an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Transactions at Doximity

In other news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Watkin Phoebe L. Yang sold 1,940 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.22, for a total transaction of $54,746.80. Following the sale, the director now directly owns 12,269 shares of the company’s stock, valued at $346,231.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,451 shares of company stock worth $1,201,018. 39.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DOCS shares. Wells Fargo & Company lowered shares of Doximity from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. Bank of America boosted their price target on shares of Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Robert W. Baird boosted their price target on shares of Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Evercore ISI boosted their price target on shares of Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Finally, Baird R W upgraded shares of Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.83.

Doximity Stock Up 1.2 %

NASDAQ:DOCS traded up $0.51 on Friday, hitting $43.37. The stock had a trading volume of 182,081 shares, compared to its average volume of 1,693,041. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 59.56, a PEG ratio of 5.29 and a beta of 1.29. The company has a fifty day moving average price of $39.32 and a two-hundred day moving average price of $31.11. Doximity, Inc. has a 1-year low of $19.89 and a 1-year high of $44.88.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The firm had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. As a group, analysts anticipate that Doximity, Inc. will post 0.8 earnings per share for the current year.

Doximity Company Profile

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.