Malaga Cove Capital LLC Increases Position in Doximity, Inc. (NASDAQ:DOCS)

Malaga Cove Capital LLC raised its position in Doximity, Inc. (NASDAQ:DOCSGet Rating) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,720 shares of the company’s stock after purchasing an additional 394 shares during the quarter. Malaga Cove Capital LLC’s holdings in Doximity were worth $337,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DOCS. US Bancorp DE acquired a new stake in Doximity in the 3rd quarter valued at about $26,000. Rockefeller Capital Management L.P. acquired a new position in shares of Doximity during the third quarter worth about $27,000. Steward Partners Investment Advisory LLC grew its position in shares of Doximity by 71.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company’s stock worth $60,000 after buying an additional 500 shares in the last quarter. Huntington National Bank grew its position in shares of Doximity by 95.6% during the fourth quarter. Huntington National Bank now owns 1,432 shares of the company’s stock worth $72,000 after buying an additional 700 shares in the last quarter. Finally, Royal Bank of Canada acquired a new position in shares of Doximity during the second quarter worth about $87,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

DOCS stock traded up $1.39 on Thursday, reaching $29.85. 3,482,108 shares of the company’s stock were exchanged, compared to its average volume of 2,123,101. The stock has a fifty day moving average of $46.92 and a 200-day moving average of $53.23. Doximity, Inc. has a twelve month low of $27.06 and a twelve month high of $107.79.

Doximity (NASDAQ:DOCSGet Rating) last announced its quarterly earnings data on Tuesday, February 8th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.16. The firm had revenue of $97.88 million for the quarter, compared to analyst estimates of $86.27 million. Doximity had a return on equity of 20.38% and a net margin of 39.15%. The company’s quarterly revenue was up 66.7% compared to the same quarter last year. Equities research analysts expect that Doximity, Inc. will post 0.63 earnings per share for the current fiscal year.

In other news, Director Gilbert H. Kliman sold 826 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $59.00, for a total value of $48,734.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $53.10, for a total transaction of $116,820.00. The disclosure for this sale can be found here. Insiders sold 34,400 shares of company stock worth $1,931,240 in the last three months.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Doximity from a “sell” rating to a “hold” rating in a research note on Monday. Guggenheim assumed coverage on Doximity in a research note on Wednesday, April 6th. They set a “buy” rating and a $70.00 target price for the company. Bank of America initiated coverage on Doximity in a research note on Monday, April 4th. They set a “neutral” rating and a $55.00 target price for the company. Morgan Stanley reduced their price objective on Doximity from $62.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 23rd. Finally, Raymond James reduced their price objective on Doximity from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $67.77.

Doximity Company Profile (Get Rating)

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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.

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Institutional Ownership by Quarter for Doximity (NASDAQ:DOCS)

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