Riverbridge Partners LLC Lowers Holdings in Doximity, Inc. (NASDAQ:DOCS)

Riverbridge Partners LLC decreased its position in Doximity, Inc. (NASDAQ:DOCS) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,185,727 shares of the company’s stock after selling 97,659 shares during the quarter. Riverbridge Partners LLC’s holdings in Doximity were worth $63,306,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 235 shares in the last quarter. GAMMA Investing LLC raised its holdings in Doximity by 20.6% in the 4th quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock worth $93,000 after acquiring an additional 296 shares during the last quarter. MetLife Investment Management LLC lifted its position in Doximity by 0.6% in the 3rd quarter. MetLife Investment Management LLC now owns 65,064 shares of the company’s stock valued at $2,835,000 after acquiring an additional 363 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Doximity by 22.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company’s stock valued at $91,000 after purchasing an additional 384 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after purchasing an additional 603 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOCS has been the topic of a number of research analyst reports. Evercore ISI upped their price target on Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Canaccord Genuity Group cut shares of Doximity from a “buy” rating to a “hold” rating and boosted their price objective for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Doximity in a report on Friday, November 15th. They issued a “neutral” rating and a $58.00 target price on the stock. Finally, Raymond James reiterated an “outperform” rating and set a $65.00 target price (up from $37.00) on shares of Doximity in a research note on Friday, November 8th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $53.12.

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $56.00 on Thursday. The firm has a market capitalization of $10.45 billion, a PE ratio of 61.01, a price-to-earnings-growth ratio of 4.39 and a beta of 1.38. The business has a 50 day simple moving average of $53.59 and a two-hundred day simple moving average of $43.13. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Doximity had a net margin of 33.69% and a return on equity of 19.79%. The business had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. During the same period last year, the company earned $0.18 EPS. Equities research analysts expect that Doximity, Inc. will post 0.88 EPS 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.