Doximity (NYSE:DOCS) CAO Siddharth Sitaram Sells 2,077 Shares

Doximity, Inc. (NYSE:DOCS) CAO Siddharth Sitaram sold 2,077 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $26.02, for a total value of $54,043.54. Following the transaction, the chief accounting officer owned 96,045 shares of the company’s stock, valued at $2,499,090.90. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.

Siddharth Sitaram also recently made the following trade(s):

• On Thursday, August 13th, Siddharth Sitaram sold 1,770 shares of Doximity stock. The shares were sold at an average price of $24.94, for a total transaction of $44,143.80.

Doximity Stock Performance

Shares of DOCS opened at $25.91 on Thursday. The company’s fifty day moving average is $23.91 and its 200 day moving average is $23.12. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The stock has a market capitalization of $4.62 billion, a PE ratio of 30.48, a P/E/G ratio of 20.19 and a beta of 1.25.

Doximity (NYSE:DOCS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The business had revenue of $156.62 million during the quarter. During the same quarter last year, the business earned $0.36 EPS. Doximity’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that Doximity, Inc. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 price objective on the stock. in a research report on Monday, August 10th. Citigroup downgraded Doximity to an “underperform” rating in a research report on Monday, June 29th. Canaccord Genuity Group set a $36.00 price objective on Doximity in a research note on Friday, August 7th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $30.00 target price on shares of Doximity in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.18.

Institutional Investors Weigh In On Doximity

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors raised its stake in shares of Doximity by 5.1% during the fourth quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock valued at $250,398,000 after acquiring an additional 273,444 shares in the last quarter. Carmignac Gestion grew its stake in Doximity by 127.8% in the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock worth $100,480,000 after purchasing an additional 2,418,971 shares in the last quarter. Wellington Management Group LLP grew its stake in Doximity by 24.7% in the second quarter. Wellington Management Group LLP now owns 3,135,113 shares of the company’s stock worth $65,022,000 after purchasing an additional 621,464 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Doximity by 29.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock worth $71,292,000 after purchasing an additional 694,300 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Doximity by 3,403.2% during the 1st quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock worth $32,820,000 after purchasing an additional 1,368,388 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Company Profile

Doximity, Inc operates a digital platform for U.S. medical professionals. Its network enables physicians and other healthcare providers to communicate, collaborate, access medical news and research, maintain professional profiles, and connect with colleagues and patients.

The company offers a range of tools for healthcare organizations and professionals, including telehealth services, digital faxing, scheduling and communication products, and solutions for recruiting and marketing. Doximity also provides pharmaceutical and healthcare companies with digital engagement services designed to reach medical professionals through its platform.

Founded in 2010, Doximity is headquartered in San Francisco and primarily serves the United States healthcare market.