Jacobs Levy Equity Management Inc. Buys New Holdings in Doximity, Inc. (NASDAQ:DOCS)

Jacobs Levy Equity Management Inc. bought a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 317,379 shares of the company’s stock, valued at approximately $8,541,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOCS. First Horizon Advisors Inc. raised its stake in Doximity by 111.3% during the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock valued at $28,000 after purchasing an additional 524 shares during the period. LRI Investments LLC bought a new stake in Doximity during the 1st quarter valued at approximately $34,000. GAMMA Investing LLC bought a new stake in Doximity in the 4th quarter worth approximately $40,000. Essex Investment Management Co. LLC bought a new stake in Doximity in the 1st quarter worth approximately $73,000. Finally, Central Pacific Bank Trust Division bought a new stake in Doximity in the 1st quarter worth approximately $120,000. Institutional investors own 87.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.22, for a total value of $68,050.00. Following the completion of the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $279,222.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.22, for a total value of $68,050.00. Following the completion of the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $279,222.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Craig Overpeck sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.85, for a total value of $35,775.00. Following the completion of the transaction, the insider now directly owns 108,609 shares of the company’s stock, valued at $2,590,324.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,500 shares of company stock worth $1,373,825. 39.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of Doximity in a research note on Tuesday, April 23rd. Evercore ISI lifted their target price on Doximity from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Friday, May 17th. JPMorgan Chase & Co. upgraded Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price for the company in a report on Thursday, April 25th. Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Doximity in a report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Doximity currently has an average rating of “Hold” and an average target price of $28.00.

Doximity Stock Up 1.5 %

DOCS traded up $0.42 during trading hours on Tuesday, reaching $28.66. 954,546 shares of the company’s stock traded hands, compared to its average volume of 1,656,228. The firm has a 50-day moving average price of $28.04 and a 200 day moving average price of $27.45. Doximity, Inc. has a 52-week low of $19.71 and a 52-week high of $36.03. The firm has a market capitalization of $5.31 billion, a PE ratio of 39.22, a PEG ratio of 5.27 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, May 16th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. Doximity had a return on equity of 17.44% and a net margin of 31.04%. The business had revenue of $118.06 million during the quarter, compared to analysts’ expectations of $116.46 million. Equities analysts predict that Doximity, Inc. will post 0.74 EPS for the current fiscal 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.