Jacobs Levy Equity Management Inc. Takes $8.54 Million Position in Doximity, Inc. (NASDAQ:DOCS)

Jacobs Levy Equity Management Inc. purchased a new stake in Doximity, Inc. (NASDAQ:DOCS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 317,379 shares of the company’s stock, valued at approximately $8,541,000. Jacobs Levy Equity Management Inc. owned approximately 0.17% of Doximity as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOCS. First Horizon Advisors Inc. grew its position in Doximity by 111.3% during the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after purchasing an additional 524 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Doximity in the 1st quarter valued at $34,000. GAMMA Investing LLC acquired a new position in shares of Doximity in the 4th quarter valued at $40,000. Essex Investment Management Co. LLC acquired a new position in Doximity during the first quarter worth $73,000. Finally, Central Pacific Bank Trust Division acquired a new position in Doximity during the first quarter worth $120,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

NASDAQ:DOCS traded up $0.42 on Tuesday, reaching $28.66. The stock had a trading volume of 954,546 shares, compared to its average volume of 1,656,228. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 5.27 and a beta of 1.22. Doximity, Inc. has a 12-month low of $19.71 and a 12-month high of $36.03. The firm’s fifty day moving average is $28.04 and its two-hundred day moving average is $27.45.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $118.06 million for the quarter, compared to analyst estimates of $116.46 million. Doximity had a net margin of 31.04% and a return on equity of 17.44%. As a group, research analysts forecast that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DOCS has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price for the company in a research report on Thursday, April 25th. Morgan Stanley reaffirmed an “underweight” rating and set a $25.00 target price on shares of Doximity in a research note on Tuesday, April 23rd. William Blair reissued an “outperform” rating on shares of Doximity in a research note on Friday, May 17th. Evercore ISI lifted their price objective on shares of Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Friday, May 17th. Finally, Wells Fargo & Company cut shares of Doximity from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $27.00 to $19.00 in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Doximity presently has an average rating of “Hold” and an average target price of $28.00.

Insider Buying and Selling

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $28.00, for a total value of $70,000.00. Following the completion of the sale, the director now owns 10,258 shares of the company’s stock, valued at $287,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Timothy S. Cabral sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 10,258 shares in the company, valued at $307,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $28.00, for a total value of $70,000.00. Following the transaction, the director now owns 10,258 shares in the company, valued at $287,224. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,500 shares of company stock valued at $1,373,825. 39.40% of the stock is currently owned by corporate insiders.

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.