AQR Capital Management LLC Reduces Stake in Doximity, Inc. (NASDAQ:DOCS)

AQR Capital Management LLC lowered its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 48.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,341 shares of the company's stock after selling 29,523 shares during the period. AQR Capital Management LLC's holdings in Doximity were worth $870,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its holdings in Doximity by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company's stock worth $179,122,000 after purchasing an additional 873,682 shares in the last quarter. Swedbank AB bought a new stake in Doximity during the first quarter worth $91,673,000. Janus Henderson Group PLC raised its position in Doximity by 33.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company's stock valued at $66,594,000 after buying an additional 621,590 shares during the last quarter. Capital World Investors lifted its stake in Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company's stock valued at $46,143,000 after acquiring an additional 1,225,707 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Doximity by 23.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,603,202 shares of the company's stock worth $44,842,000 after acquiring an additional 301,100 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DOCS shares. Morgan Stanley boosted their price target on shares of Doximity from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Friday, August 9th. Evercore ISI boosted their target price on Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 8th. Wells Fargo & Company downgraded Doximity from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $27.00 to $19.00 in a research report on Thursday, July 18th. Needham & Company LLC upgraded Doximity from a "hold" rating to a "buy" rating and set a $38.00 price target on the stock in a report on Friday, August 9th. Finally, Baird R W upgraded Doximity to a "strong-buy" rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $34.42.

Doximity Stock Down 0.1 %

Shares of NASDAQ DOCS traded down $0.04 during midday trading on Friday, reaching $43.31. The company had a trading volume of 1,157,021 shares, compared to its average volume of 1,703,901. The firm's fifty day moving average price is $37.92 and its 200-day moving average price is $30.71. Doximity, Inc. has a one year low of $19.89 and a one year high of $44.88. The stock has a market cap of $8.04 billion, a PE ratio of 54.14, a price-to-earnings-growth ratio of 5.29 and a beta of 1.29.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The firm had revenue of $126.68 million for the quarter, compared to analysts' expectations of $119.88 million. As a group, equities research analysts expect that Doximity, Inc. will post 0.8 EPS for the current year.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares of the company's stock, valued at $10,836,945. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Anna Bryson sold 30,000 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $28.18, for a total transaction of $70,450.00. Following the completion of the transaction, the director now owns 10,258 shares in the company, valued at approximately $289,070.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,451 shares of company stock valued at $1,201,018 in the last three months. 37.40% of the stock is currently owned by company insiders.

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.