Doximity, Inc. $DOCS Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC raised its position in Doximity, Inc. (NASDAQ:DOCS) by 932.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,567,668 shares of the company’s stock after purchasing an additional 1,415,882 shares during the quarter. Voya Investment Management LLC owned 0.84% of Doximity worth $114,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DOCS. William Blair Investment Management LLC lifted its stake in Doximity by 13.8% during the 2nd quarter. William Blair Investment Management LLC now owns 5,219,394 shares of the company’s stock worth $320,158,000 after acquiring an additional 634,927 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Doximity by 7.7% during the second quarter. Geode Capital Management LLC now owns 3,639,898 shares of the company’s stock worth $223,829,000 after purchasing an additional 261,319 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Doximity by 53.9% in the second quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock valued at $193,993,000 after purchasing an additional 1,108,162 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Doximity by 130.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company’s stock valued at $114,133,000 after purchasing an additional 1,113,076 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Doximity in the second quarter valued at approximately $44,983,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $62.00 price target on shares of Doximity in a research report on Friday, October 10th. KeyCorp upped their price target on Doximity from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Raymond James Financial raised Doximity from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $75.00 to $65.00 in a research report on Friday, November 21st. The Goldman Sachs Group set a $64.00 price objective on Doximity and gave the stock a “sell” rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets began coverage on shares of Doximity in a report on Thursday, November 13th. They issued a “market perform” rating and a $55.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Doximity currently has an average rating of “Moderate Buy” and an average target price of $68.94.

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the transaction, the director directly owned 19,839 shares of the company’s stock, valued at $1,318,103.16. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the sale, the director owned 3,221 shares of the company’s stock, valued at approximately $241,575. This represents a 86.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,000 shares of company stock valued at $1,987,080 over the last quarter. Company insiders own 31.30% of the company’s stock.

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $43.66 on Friday. Doximity, Inc. has a 12 month low of $43.28 and a 12 month high of $85.21. The firm has a market capitalization of $8.22 billion, a P/E ratio of 43.66, a P/E/G ratio of 4.10 and a beta of 1.38. The company’s fifty day moving average price is $55.26 and its 200 day moving average price is $61.07.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter last year, the business earned $0.30 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current year.

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.