Doximity (NYSE:DOCS) Director Timothy Cabral Sells 7,500 Shares

Doximity, Inc. (NYSE:DOCS) Director Timothy Cabral sold 7,500 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.11, for a total value of $293,325.00. Following the completion of the transaction, the director owned 3,221 shares in the company, valued at $125,973.31. This represents a 69.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Doximity Stock Performance

Shares of DOCS stock traded up $0.41 during trading on Tuesday, hitting $26.04. 5,733,388 shares of the company were exchanged, compared to its average volume of 4,267,294. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 9.94 and a beta of 1.29. The business’s 50-day simple moving average is $21.34 and its 200 day simple moving average is $24.14. Doximity, Inc. has a twelve month low of $17.15 and a twelve month high of $76.51.

Doximity (NYSE:DOCS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The firm had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Doximity, Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Carmignac Gestion lifted its stake in shares of Doximity by 127.8% in the 1st quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after purchasing an additional 2,418,971 shares during the last quarter. SG Americas Securities LLC increased its position in Doximity by 3,403.2% during the first quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock worth $32,820,000 after buying an additional 1,368,388 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Doximity by 325,436.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock worth $57,515,000 after buying an additional 1,298,492 shares during the last quarter. Federated Hermes Inc. raised its holdings in Doximity by 3,422.7% during the fourth quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock valued at $55,309,000 after buying an additional 1,213,627 shares in the last quarter. Finally, Swedbank AB raised its holdings in Doximity by 1,147.9% during the first quarter. Swedbank AB now owns 1,010,559 shares of the company’s stock valued at $23,546,000 after buying an additional 929,576 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on shares of Doximity from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Barclays reissued an “equal weight” rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. Bank of America restated an “underperform” rating and issued a $20.00 target price (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 target price (up from $42.00) on shares of Doximity in a research report on Friday. Finally, Leerink Partners cut their price target on Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.86.

Doximity Company 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.