Doximity (NYSE:DOCS) Director Sells $234,540.00 in Stock

Doximity, Inc. (NYSE:DOCS) Director Kira Scherer Wampler sold 9,000 shares of Doximity stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at $517,004.34. This represents a 31.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kira Scherer Wampler also recently made the following trade(s):

• On Tuesday, March 3rd, Kira Scherer Wampler sold 2,000 shares of Doximity stock. The stock was sold at an average price of $26.00, for a total value of $52,000.00.

Doximity Trading Down 0.2%

Shares of DOCS traded down $0.06 during midday trading on Friday, reaching $25.97. 2,075,209 shares of the stock were exchanged, compared to its average volume of 3,352,893. Doximity, Inc. has a twelve month low of $20.55 and a twelve month high of $76.51. The stock has a market capitalization of $4.80 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.83 and a beta of 1.36. The firm has a 50 day moving average of $24.22.

Doximity (NYSE:DOCS) last posted its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Doximity had a return on equity of 23.84% and a net margin of 37.54%.During the same quarter in the prior year, the company earned $0.45 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Doximity, Inc. will post 1.11 EPS for the current year.

Doximity announced that its board has authorized a share repurchase plan on Thursday, February 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Doximity from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Truist Financial reiterated a “hold” rating and issued a $29.00 price target (down from $37.00) on shares of Doximity in a research report on Monday, April 20th. Morgan Stanley dropped their price target on shares of Doximity from $65.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Barclays dropped their price target on Doximity from $63.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Finally, BMO Capital Markets set a $25.00 price target on shares of Doximity in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Doximity has an average rating of “Moderate Buy” and a consensus target price of $41.26.

Institutional Trading of Doximity

Several hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in Doximity by 42.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,112 shares of the company’s stock valued at $212,000 after purchasing an additional 2,726 shares during the period. Meeder Advisory Services Inc. bought a new position in Doximity in the 1st quarter valued at about $249,000. Parallel Advisors LLC raised its holdings in shares of Doximity by 111.0% in the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the period. SEB Asset Management AB bought a new stake in shares of Doximity in the 1st quarter worth approximately $349,000. Finally, Swiss National Bank raised its holdings in shares of Doximity by 1.0% in the 1st quarter. Swiss National Bank now owns 244,600 shares of the company’s stock worth $5,699,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.