Capital Fund Management S.A. Has $11.13 Million Stake in Doximity, Inc. $DOCS

Capital Fund Management S.A. boosted its holdings in Doximity, Inc. (NYSE:DOCS) by 252.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,173 shares of the company’s stock after buying an additional 108,937 shares during the period. Capital Fund Management S.A.’s holdings in Doximity were worth $11,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC grew its holdings in Doximity by 11.7% during the 3rd quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock worth $426,404,000 after acquiring an additional 609,775 shares during the period. Capital World Investors grew its stake in shares of Doximity by 25.7% during the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock worth $393,652,000 after purchasing an additional 1,101,848 shares during the period. Geode Capital Management LLC grew its stake 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 during the period. Franklin Resources Inc. increased its holdings in Doximity by 6.2% in the third quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock valued at $245,601,000 after purchasing an additional 194,912 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in Doximity by 932.8% in the third quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company’s stock valued at $114,267,000 after purchasing an additional 1,415,882 shares during the last quarter. 87.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

DOCS has been the topic of a number of recent analyst reports. Mizuho reduced their target price on Doximity from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. BTIG Research cut their price target on shares of Doximity from $80.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. KeyCorp set a $38.00 price objective on shares of Doximity in a research note on Friday, February 6th. Wall Street Zen cut shares of Doximity from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Wells Fargo & Company decreased their price target on shares of Doximity from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.50.

Insider Activity at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,319 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.37, for a total value of $58,833.03. Following the completion of the transaction, the insider directly owned 84,132 shares in the company, valued at $2,134,428.84. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $52,000.00. Following the transaction, the director directly owned 19,839 shares in the company, valued at $515,814. This trade represents a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,601 shares of company stock valued at $174,455 over the last three months. Insiders own 31.30% of the company’s stock.

Doximity Stock Down 1.7%

Shares of DOCS opened at $24.22 on Friday. The company has a market cap of $4.47 billion, a PE ratio of 20.19, a P/E/G ratio of 1.38 and a beta of 1.44. Doximity, Inc. has a twelve month low of $23.53 and a twelve month high of $76.51. The business’s 50 day simple moving average is $33.02.

Doximity (NYSE:DOCS) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was up 9.8% on a year-over-year basis.

Doximity declared that its Board of Directors has approved a share repurchase plan on Thursday, February 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

About Doximity

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.