Executive Wealth Management LLC Trims Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Executive Wealth Management LLC reduced its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 6.2% in the third quarter, Holdings Channel reports. The firm owned 56,865 shares of the company’s stock after selling 3,771 shares during the period. Executive Wealth Management LLC’s holdings in Doximity were worth $2,478,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DOCS. William Blair Investment Management LLC bought a new stake in Doximity during the first quarter valued at $148,823,000. Swedbank AB bought a new position in shares of Doximity in the first quarter worth approximately $91,673,000. Capital World Investors raised its stake in Doximity by 250.7% in the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock valued at $46,143,000 after purchasing an additional 1,225,707 shares in the last quarter. Janus Henderson Group PLC lifted its position in Doximity by 33.5% during the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock valued at $66,594,000 after purchasing an additional 621,590 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Doximity by 7.1% during the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock valued at $163,709,000 after purchasing an additional 387,200 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on DOCS shares. Canaccord Genuity Group raised their price objective on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Robert W. Baird raised their price target on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Raymond James reiterated an “outperform” rating and issued a $65.00 price objective (up from $37.00) on shares of Doximity in a report on Friday. JPMorgan Chase & Co. increased their price objective on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Evercore ISI boosted their target price on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.43.

Doximity Trading Up 33.8 %

Doximity stock opened at $58.08 on Friday. The firm has a market cap of $10.78 billion, a P/E ratio of 73.20, a P/E/G ratio of 5.03 and a beta of 1.30. Doximity, Inc. has a 1-year low of $20.28 and a 1-year high of $60.90. The firm has a 50-day moving average of $41.12 and a 200-day moving average of $32.82.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. Research analysts forecast that Doximity, Inc. will post 0.8 earnings per share for the current fiscal year.

About Doximity

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.