Siddharth Sitaram Sells 1,770 Shares of Doximity (NYSE:DOCS) Stock

Doximity, Inc. (NYSE:DOCS) CAO Siddharth Sitaram sold 1,770 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $24.94, for a total value of $44,143.80. Following the completion of the transaction, the chief accounting officer directly owned 97,004 shares in the company, valued at $2,419,279.76. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Monday, June 8th, Siddharth Sitaram sold 2,444 shares of Doximity stock. The shares were sold at an average price of $20.41, for a total value of $49,882.04.

Doximity Trading Up 2.0%

Doximity stock opened at $25.01 on Wednesday. The firm has a 50 day moving average of $21.89 and a 200 day moving average of $23.52. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 17.10 and a beta of 1.29. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51.

Doximity (NYSE:DOCS) last released its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. The company 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%. Doximity’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. On average, analysts predict that Doximity, Inc. will post 0.74 EPS for the current year.

Institutional Trading of Doximity

Several hedge funds have recently bought and sold shares of the stock. Carmignac Gestion grew its holdings in shares of Doximity by 127.8% in the first 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 in the last quarter. SG Americas Securities LLC raised its stake 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 valued at $32,820,000 after purchasing an additional 1,368,388 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted 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 valued at $57,515,000 after purchasing an additional 1,298,492 shares during the last quarter. Federated Hermes Inc. lifted its position 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 purchasing an additional 1,213,627 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Doximity by 1,147.9% in the 1st quarter. Swedbank AB now owns 1,010,559 shares of the company’s stock worth $23,546,000 after buying an additional 929,576 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOCS. Bank of America reiterated an “underperform” rating and issued a $20.00 price target (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Barclays restated an “equal weight” rating and issued a $20.00 price objective (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. JPMorgan Chase & Co. upped their price objective on Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. The Goldman Sachs Group cut their target price on Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Canaccord Genuity Group set a $36.00 price target on Doximity in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.