Texas Permanent School Fund Corp Boosts Stock Holdings in Doximity, Inc. $DOCS

Texas Permanent School Fund Corp boosted its stake in Doximity, Inc. (NASDAQ:DOCS) by 130.7% during the 2nd quarter, Holdings Channel reports. The firm owned 145,222 shares of the company’s stock after buying an additional 82,274 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Doximity were worth $8,908,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DOCS. Hantz Financial Services Inc. increased its holdings in shares of Doximity by 148.9% in the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock worth $28,000 after purchasing an additional 271 shares during the last quarter. National Bank of Canada FI purchased a new position in Doximity during the 1st quarter valued at approximately $33,000. Brooklyn Investment Group grew its holdings in Doximity by 70.7% during the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company’s stock valued at $43,000 after buying an additional 309 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Doximity by 176.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 781 shares of the company’s stock worth $46,000 after acquiring an additional 498 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in Doximity by 29.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,427 shares of the company’s stock worth $88,000 after acquiring an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on DOCS. Barclays started coverage on Doximity in a research report on Monday, December 8th. They set an “overweight” rating and a $63.00 target price for the company. Canaccord Genuity Group lowered their price objective on shares of Doximity from $67.00 to $58.00 and set a “hold” rating for the company in a research report on Monday, November 10th. Morgan Stanley raised shares of Doximity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $62.00 to $65.00 in a research note on Monday. Raymond James Financial upgraded shares of Doximity from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $75.00 to $65.00 in a report on Friday, November 21st. Finally, Evercore ISI lowered their price target on shares of Doximity from $81.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.21.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s 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 completion of the transaction, the director owned 3,221 shares in the company, valued at $241,575. The trade was a 86.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $66.44, for a total value of $132,880.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at approximately $1,318,103.16. The trade was a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 27,000 shares of company stock valued at $1,987,080. 31.30% of the stock is currently owned by insiders.

Doximity Stock Up 1.9%

DOCS stock opened at $44.68 on Tuesday. Doximity, Inc. has a twelve month low of $43.60 and a twelve month high of $85.21. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 4.10 and a beta of 1.38. The firm’s fifty day simple moving average is $57.43 and its two-hundred day simple moving average is $61.44.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity 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.