Doximity (NASDAQ:DOCS) Director Sells $52,000.00 in Stock

Doximity, Inc. (NASDAQ:DOCS) Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $52,000.00. Following the completion of the sale, the director owned 19,839 shares of the company’s stock, valued at approximately $515,814. The trade was a 9.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Doximity Stock Down 2.6%

NASDAQ DOCS opened at $25.39 on Friday. Doximity, Inc. has a 52 week low of $23.53 and a 52 week high of $76.51. The company has a market capitalization of $4.69 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 4.10 and a beta of 1.44. The stock’s 50-day moving average price is $34.57 and its 200-day moving average price is $51.68.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Doximity from $46.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Doximity in a report on Monday, December 29th. Evercore reiterated an “outperform” rating on shares of Doximity in a research note on Thursday, January 8th. Canaccord Genuity Group set a $34.00 price target on Doximity and gave the company a “buy” rating in a report on Monday, February 9th. Finally, Wells Fargo & Company lowered their price objective on Doximity from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

Hedge Funds Weigh In On Doximity

Several hedge funds have recently modified their holdings of DOCS. Hantz Financial Services Inc. boosted its position in shares of Doximity by 148.9% during the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock worth $28,000 after acquiring an additional 271 shares during the last quarter. Root Financial Partners LLC purchased a new position in Doximity during the third quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Doximity by 59.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 179 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Doximity by 99.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after acquiring an additional 397 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in Doximity by 150.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.