Riverbridge Partners LLC Trims Position in Doximity, Inc. (NASDAQ:DOCS)

Riverbridge Partners LLC trimmed its position in Doximity, Inc. (NASDAQ:DOCS) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,185,727 shares of the company’s stock after selling 97,659 shares during the quarter. Riverbridge Partners LLC owned approximately 0.64% of Doximity worth $63,306,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DOCS. UMB Bank n.a. raised its holdings in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after acquiring an additional 235 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after purchasing an additional 603 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Doximity in the third quarter valued at approximately $46,000. GAMMA Investing LLC lifted its position in Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after purchasing an additional 412 shares during the last quarter. Finally, Quarry LP grew its stake in Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after buying an additional 131,253 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Raymond James reaffirmed an “outperform” rating and set a $65.00 price target (up previously from $37.00) on shares of Doximity in a research note on Friday, November 8th. The Goldman Sachs Group started coverage on Doximity in a report on Friday, November 15th. They set a “neutral” rating and a $58.00 price objective on the stock. Bank of America upped their target price on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Barclays lifted their price target on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.12.

Doximity Stock Up 0.9 %

Shares of DOCS stock opened at $56.00 on Thursday. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 4.39 and a beta of 1.38. The stock has a fifty day moving average of $53.59 and a 200 day moving average of $43.13. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $61.75.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Doximity had a net margin of 33.69% and a return on equity of 19.79%. The company had revenue of $136.83 million for the quarter, compared to the consensus estimate of $127.05 million. During the same period in the previous year, the firm posted $0.18 EPS. Equities research analysts anticipate that Doximity, Inc. will post 0.88 earnings per share for the current year.

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.