Newbridge Financial Services Group Inc. Acquires Shares of 6,780 Doximity, Inc. (NASDAQ:DOCS)

Newbridge Financial Services Group Inc. acquired a new position in Doximity, Inc. (NASDAQ:DOCS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,780 shares of the company’s stock, valued at approximately $362,000.

Several other hedge funds have also modified their holdings of the company. Fountainhead AM LLC purchased a new stake in Doximity in the 3rd quarter worth $710,000. Penserra Capital Management LLC acquired a new stake in shares of Doximity in the third quarter valued at about $2,384,000. Los Angeles Capital Management LLC increased its stake in shares of Doximity by 6,242.6% during the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after purchasing an additional 640,612 shares in the last quarter. Barclays PLC raised its position in shares of Doximity by 60.5% during the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock worth $2,327,000 after purchasing an additional 20,125 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Doximity by 139.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,635 shares of the company’s stock valued at $1,553,000 after buying an additional 20,740 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 37.40% of the company’s stock.

Doximity Stock Up 35.5 %

Shares of Doximity stock opened at $78.97 on Monday. The firm has a market cap of $14.74 billion, a PE ratio of 78.97, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $80.71. The business’s fifty day simple moving average is $55.61 and its 200-day simple moving average is $45.91.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The company had revenue of $136.83 million during the quarter, compared to analyst estimates of $127.05 million. Doximity had a net margin of 36.60% and a return on equity of 22.38%. During the same period in the previous year, the company earned $0.18 EPS. As a group, equities analysts expect that Doximity, Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DOCS has been the subject of several research reports. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $31.00 to $78.00 in a research note on Friday. Wells Fargo & Company boosted their price target on Doximity from $43.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday. Stephens assumed coverage on Doximity in a report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Doximity in a research note on Friday, November 15th. They set a “neutral” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.44.

Doximity Company 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.