Jefferies Financial Group Inc. Has $3.41 Million Stock Position in Doximity, Inc. $DOCS

Jefferies Financial Group Inc. increased its stake in Doximity, Inc. (NASDAQ:DOCS) by 150.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,658 shares of the company’s stock after purchasing an additional 28,058 shares during the period. Jefferies Financial Group Inc.’s holdings in Doximity were worth $3,413,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCS. Whittier Trust Co. of Nevada Inc. lifted its position in Doximity by 59.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 179 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Doximity by 0.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 27,500 shares of the company’s stock valued at $2,012,000 after buying an additional 200 shares during the period. Fairvoy Private Wealth LLC increased its holdings in Doximity by 1.1% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 19,253 shares of the company’s stock valued at $1,408,000 after buying an additional 206 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Doximity by 0.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after buying an additional 210 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in shares of Doximity by 14.0% in the 3rd quarter. Rakuten Securities Inc. now owns 1,763 shares of the company’s stock valued at $129,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Doximity from $62.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. BMO Capital Markets set a $25.00 price objective on shares of Doximity in a research report on Friday, February 6th. Evercore restated an “outperform” rating on shares of Doximity in a research note on Thursday, January 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Doximity in a report on Monday, December 29th. Finally, The Goldman Sachs Group decreased their price target on Doximity from $46.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Doximity currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Doximity Trading Down 2.7%

NASDAQ:DOCS opened at $24.81 on Wednesday. The stock has a market cap of $4.58 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 4.10 and a beta of 1.44. The stock’s 50-day moving average is $33.80 and its 200-day moving average is $51.01. Doximity, Inc. has a 1-year low of $23.53 and a 1-year high of $76.51.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. As a group, equities analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity declared that its Board of Directors has approved a share repurchase program on Thursday, February 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at $515,814. The trade was a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.30% of the stock is owned by insiders.

About Doximity

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.