Doximity (NYSE:DOCS) Director Timothy Cabral Sells 7,500 Shares of Stock

Doximity, Inc. (NYSE:DOCS) Director Timothy Cabral sold 7,500 shares of Doximity stock in a transaction on Friday, August 7th. The shares were sold at an average price of $39.11, for a total transaction of $293,325.00. Following the completion of the transaction, the director directly owned 3,221 shares of the company’s stock, valued at $125,973.31. The trade was a 69.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Doximity Stock Up 1.6%

DOCS stock opened at $26.04 on Wednesday. The company’s 50-day simple moving average is $21.43 and its 200-day simple moving average is $24.04. Doximity, Inc. has a 52-week low of $17.15 and a 52-week high of $76.51. The firm has a market cap of $4.76 billion, a P/E ratio of 30.63, a PEG ratio of 17.29 and a beta of 1.29.

Doximity (NYSE:DOCS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.13. The firm had revenue of $156.62 million during the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.Doximity’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, analysts anticipate that Doximity, Inc. will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Doximity

A number of institutional investors and hedge funds have recently bought and sold shares of DOCS. Vanguard Group Inc. lifted its stake in Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock worth $588,281,000 after purchasing an additional 518,916 shares in the last quarter. Capital World Investors grew its position in shares of Doximity by 5.1% in the fourth quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock valued at $250,398,000 after purchasing an additional 273,444 shares in the last quarter. Carmignac Gestion increased its holdings in shares of Doximity by 127.8% in the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after purchasing an additional 2,418,971 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Doximity by 29.4% in the first quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock valued at $71,292,000 after purchasing an additional 694,300 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Doximity by 4.2% during the fourth quarter. Invesco Ltd. now owns 2,426,819 shares of the company’s stock worth $107,460,000 after buying an additional 98,519 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. KeyCorp downgraded Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Doximity in a report on Friday. Jefferies Financial Group cut shares of Doximity from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $51.00 to $19.00 in a research report on Thursday, May 14th. Leerink Partners dropped their target price on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.86.

About Doximity

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.