Kornitzer Capital Management Inc. KS Purchases 40,000 Shares of Doximity, Inc. (NASDAQ:DOCS)

Kornitzer Capital Management Inc. KS boosted its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 16.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 290,000 shares of the company’s stock after acquiring an additional 40,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Doximity were worth $8,132,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DOCS. BlackRock Inc. grew its holdings in Doximity by 96.0% during the 2nd quarter. BlackRock Inc. now owns 10,688,411 shares of the company’s stock valued at $363,620,000 after purchasing an additional 5,235,837 shares during the last quarter. Vanguard Group Inc. grew its stake in Doximity by 81.2% in the 1st quarter. Vanguard Group Inc. now owns 7,501,908 shares of the company’s stock worth $390,774,000 after acquiring an additional 3,362,575 shares in the last quarter. Clearbridge Investments LLC grew its stake in Doximity by 559.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,682,876 shares of the company’s stock worth $139,751,000 after acquiring an additional 2,276,056 shares in the last quarter. State Street Corp grew its stake in Doximity by 83.5% in the 2nd quarter. State Street Corp now owns 3,176,208 shares of the company’s stock worth $108,055,000 after acquiring an additional 1,444,979 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Doximity by 141.3% in the 1st quarter. Invesco Ltd. now owns 2,410,842 shares of the company’s stock worth $125,581,000 after acquiring an additional 1,411,849 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. SVB Leerink assumed coverage on shares of Doximity in a research note on Monday, February 26th. They issued a “market perform” rating and a $32.00 target price on the stock. Barclays assumed coverage on shares of Doximity in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $31.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Doximity from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Bank of America increased their price objective on shares of Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Doximity in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of “Hold” and a consensus price target of $28.82.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.97, for a total transaction of $67,425.00. Following the completion of the sale, the director now owns 10,258 shares of the company’s stock, valued at $276,658.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.40% of the stock is currently owned by corporate insiders.

Doximity Stock Performance

NASDAQ:DOCS traded down $0.19 during midday trading on Friday, reaching $24.63. 1,679,206 shares of the stock traded hands, compared to its average volume of 1,637,008. Doximity, Inc. has a 12-month low of $19.71 and a 12-month high of $37.06. The business has a 50-day moving average of $27.53 and a two-hundred day moving average of $26.10. The stock has a market capitalization of $4.59 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 3.12 and a beta of 1.17.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Doximity had a net margin of 29.39% and a return on equity of 16.08%. The company had revenue of $135.28 million during the quarter, compared to analysts’ expectations of $127.46 million. Research analysts anticipate that Doximity, Inc. will post 0.72 earnings per share for the current year.

Doximity 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.