Principal Financial Group Inc. Increases Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Principal Financial Group Inc. boosted its stake in Doximity, Inc. (NASDAQ:DOCSGet Rating) by 104.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 684,191 shares of the company’s stock after acquiring an additional 349,019 shares during the period. Principal Financial Group Inc.’s holdings in Doximity were worth $23,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. purchased a new stake in Doximity in the first quarter valued at $28,000. Signaturefd LLC raised its holdings in shares of Doximity by 460.0% in the first quarter. Signaturefd LLC now owns 728 shares of the company’s stock valued at $38,000 after buying an additional 598 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Doximity by 225.2% in the second quarter. Parkside Financial Bank & Trust now owns 813 shares of the company’s stock valued at $28,000 after buying an additional 563 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Doximity in the first quarter valued at about $45,000. Finally, Castle Wealth Management LLC purchased a new stake in shares of Doximity in the second quarter valued at about $31,000. 46.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DOCS shares. BTIG Research started coverage on shares of Doximity in a report on Thursday, October 13th. They issued a “neutral” rating for the company. Piper Sandler reduced their target price on shares of Doximity from $39.00 to $35.00 in a report on Friday, November 11th. Truist Financial started coverage on shares of Doximity in a report on Wednesday, September 7th. They set a “hold” rating and a $35.00 price target for the company. Canaccord Genuity Group cut their price target on shares of Doximity from $47.00 to $42.00 and set a “buy” rating for the company in a report on Monday, August 8th. Finally, Wells Fargo & Company increased their price target on shares of Doximity from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.94.

Doximity Trading Up 0.3 %

Shares of DOCS opened at $31.70 on Monday. The firm’s 50-day moving average is $28.84 and its two-hundred day moving average is $33.88. Doximity, Inc. has a twelve month low of $22.91 and a twelve month high of $68.94. The firm has a market capitalization of $6.10 billion, a P/E ratio of 48.77, a PEG ratio of 15.93 and a beta of 0.64.

Doximity (NASDAQ:DOCSGet Rating) last issued its earnings results on Thursday, November 10th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Doximity had a net margin of 36.70% and a return on equity of 16.41%. The company had revenue of $102.19 million for the quarter, compared to analyst estimates of $99.86 million. Analysts predict that Doximity, Inc. will post 0.52 EPS for the current year.

About Doximity

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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.

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Institutional Ownership by Quarter for Doximity (NASDAQ:DOCS)

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