RFG Advisory LLC Takes Position in Doximity, Inc. $DOCS

RFG Advisory LLC acquired a new position in Doximity, Inc. (NYSE:DOCS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 55,970 shares of the company’s stock, valued at approximately $1,161,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Doximity by 111.0% in the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 2,560 shares during the last quarter. Continuum Advisory LLC bought a new stake in Doximity during the 2nd quarter valued at approximately $67,000. Finally, Leonteq Securities AG grew its holdings in Doximity by 65.6% in the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock valued at $68,000 after buying an additional 1,154 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Doximity

In related news, CAO Siddharth Sitaram sold 1,770 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $24.94, for a total value of $44,143.80. Following the completion of the transaction, the chief accounting officer directly owned 97,004 shares of the company’s stock, valued at $2,419,279.76. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Kira Wampler sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $24.95, for a total transaction of $49,900.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at $494,983.05. This trade represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, 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%

Doximity stock opened at $25.66 on Friday. The business has a 50 day moving average price of $23.69 and a two-hundred day moving average price of $23.09. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 19.33 and a beta of 1.25. Doximity, Inc. has a 12 month low of $17.15 and a 12 month high of $76.51.

Doximity (NYSE:DOCS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.13. The company had revenue of $156.62 million for the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.Doximity’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. On average, analysts expect that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DOCS has been the subject of a number of research analyst reports. Canaccord Genuity Group set a $36.00 price target on Doximity in a report on Friday, August 7th. Wells Fargo & Company lowered shares of Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 target price on the stock. in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their target price on shares of Doximity from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Doximity in a report on Wednesday, August 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $47.00 price target (up from $42.00) on shares of Doximity in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.18.

Doximity Company Profile

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.