Carmignac Gestion Sells 1,956,097 Shares of Doximity, Inc. $DOCS

Carmignac Gestion lessened its stake in shares of Doximity, Inc. (NYSE:DOCS) by 45.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,355,900 shares of the company’s stock after selling 1,956,097 shares during the quarter. Carmignac Gestion’s holdings in Doximity were worth $48,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in Doximity by 325,436.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after buying an additional 1,298,492 shares during the last quarter. Royal Bank of Canada lifted its position in Doximity by 28.4% during the 1st quarter. Royal Bank of Canada now owns 206,282 shares of the company’s stock worth $4,806,000 after acquiring an additional 45,618 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Doximity by 420.5% during the first quarter. Quantinno Capital Management LP now owns 140,345 shares of the company’s stock valued at $3,270,000 after acquiring an additional 113,380 shares during the period. Wellington Management Group LLP boosted its holdings in Doximity by 24.7% during the second quarter. Wellington Management Group LLP now owns 3,135,113 shares of the company’s stock valued at $65,022,000 after acquiring an additional 621,464 shares during the period. Finally, Rhenman & Partners Asset Management AB grew its position in shares of Doximity by 174.1% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 372,750 shares of the company’s stock valued at $16,505,000 after purchasing an additional 236,750 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of NYSE DOCS traded down $1.94 during mid-day trading on Tuesday, hitting $24.41. The company had a trading volume of 3,181,231 shares, compared to its average volume of 4,126,752. The business’s 50-day simple moving average is $23.43 and its 200-day simple moving average is $23.09. Doximity, Inc. has a 12 month low of $17.15 and a 12 month high of $76.51. The firm has a market cap of $4.35 billion, a P/E ratio of 28.72, a PEG ratio of 20.61 and a beta of 1.25.

Doximity (NYSE:DOCS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.13. The firm had revenue of $156.62 million for the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, sell-side analysts predict that Doximity, Inc. will post 0.74 EPS for the current year.

Insider Activity

In other Doximity news, Director Kira Wampler sold 2,000 shares of Doximity stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $24.95, for a total transaction of $49,900.00. Following the sale, the director owned 19,839 shares in the company, valued at $494,983.05. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 1,770 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $24.94, for a total transaction of $44,143.80. Following the completion of the sale, the chief accounting officer directly owned 97,004 shares in the company, valued at $2,419,279.76. This trade represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 11,270 shares of company stock worth $387,369. Company insiders own 31.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DOCS shares. BTIG Research lowered Doximity from a “buy” rating to a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Doximity in a report on Wednesday, August 12th. Jefferies Financial Group downgraded Doximity from a “buy” rating to a “hold” rating and dropped their price target for the stock from $51.00 to $19.00 in a research report on Thursday, May 14th. Wells Fargo & Company lowered Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 price target for the company. in a report on Monday, August 10th. Finally, Wolfe Research raised Doximity to an “outperform” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.18.

Doximity Profile

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.