Rice Hall James & Associates LLC Sells 35,852 Shares of Doximity, Inc. $DOCS

Rice Hall James & Associates LLC lessened its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 8.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 395,555 shares of the company’s stock after selling 35,852 shares during the quarter. Doximity comprises approximately 1.6% of Rice Hall James & Associates LLC’s portfolio, making the stock its 15th biggest holding. Rice Hall James & Associates LLC’s holdings in Doximity were worth $28,935,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Doximity by 5.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,981 shares of the company’s stock valued at $183,000 after buying an additional 165 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Doximity by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the company’s stock valued at $2,306,000 after acquiring an additional 200 shares during the period. Fairvoy Private Wealth LLC lifted its position in shares of Doximity by 1.1% during the third quarter. Fairvoy Private Wealth LLC now owns 19,253 shares of the company’s stock worth $1,408,000 after acquiring an additional 206 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after acquiring an additional 210 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Doximity by 4.1% in the second quarter. ProShare Advisors LLC now owns 5,920 shares of the company’s stock worth $363,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Trading Down 0.2%

Shares of Doximity stock opened at $43.70 on Friday. The business’s 50-day moving average price is $52.92 and its 200-day moving average price is $60.65. The firm has a market capitalization of $8.23 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 4.10 and a beta of 1.38. Doximity, Inc. has a 12 month low of $43.25 and a 12 month high of $85.21.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period last year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Regina M. Benjamin sold 5,000 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $70.84, for a total transaction of $354,200.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at $1,405,394.76. This represents a 20.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the completion of the sale, the director directly owned 19,839 shares of the company’s stock, valued at approximately $1,318,103.16. This trade represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 31.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DOCS shares. Barclays assumed coverage on Doximity in a research note on Monday, December 8th. They set an “overweight” rating and a $63.00 price objective on the stock. Canaccord Genuity Group cut their price target on shares of Doximity from $67.00 to $58.00 and set a “hold” rating for the company in a report on Monday, November 10th. The Goldman Sachs Group set a $64.00 price objective on Doximity and gave the stock a “sell” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. reissued an “underweight” rating and set a $62.00 price objective on shares of Doximity in a research note on Friday, October 10th. Finally, Bank of America upgraded Doximity from a “neutral” rating to a “buy” rating and upped their target price for the stock from $75.00 to $82.00 in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and an average target price of $68.94.

Doximity 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.