Doximity (NYSE:DOCS) Director Sells $293,325.00 in Stock

Doximity, Inc. (NYSE:DOCS) Director Timothy Cabral sold 7,500 shares of the stock in a transaction that occurred 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 sale, the director directly owned 3,221 shares of the company’s stock, valued at approximately $125,973.31. This represents a 69.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Doximity Stock Performance

Shares of NYSE:DOCS opened at $26.51 on Friday. The company has a 50 day moving average price of $21.62 and a 200 day moving average price of $23.83. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 16.86 and a beta of 1.29. Doximity, Inc. has a 1-year low of $17.15 and a 1-year high of $76.51.

Doximity (NYSE:DOCS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The business 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%.The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. On average, sell-side analysts expect that Doximity, Inc. will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Doximity

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Doximity by 24.2% in the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after acquiring an additional 20,847 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $2,262,000 after acquiring an additional 210 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Doximity by 613.7% during the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after acquiring an additional 5,437 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Doximity by 33.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after purchasing an additional 63,873 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of Doximity in the 1st quarter valued at $283,000. Institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citigroup downgraded shares of Doximity to an “underperform” rating in a report on Monday, June 29th. Zacks Research upgraded shares of Doximity from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. The Goldman Sachs Group reduced their price objective on Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Weiss Ratings lowered shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Doximity in a research note on Friday, August 7th. Two 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.10.

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.