Vanguard Group Inc. Cuts Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Vanguard Group Inc. lowered its holdings in Doximity, Inc. (NASDAQ:DOCS) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 10,900,648 shares of the company’s stock after selling 137,827 shares during the period. Vanguard Group Inc. owned approximately 0.06% of Doximity worth $305,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. UBS Group AG raised its stake in shares of Doximity by 82.8% in the third quarter. UBS Group AG now owns 107,228 shares of the company’s stock valued at $2,275,000 after buying an additional 48,568 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Doximity by 16.6% in the third quarter. PNC Financial Services Group Inc. now owns 6,500 shares of the company’s stock valued at $138,000 after buying an additional 925 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Doximity by 21.3% in the third quarter. Envestnet Asset Management Inc. now owns 156,717 shares of the company’s stock valued at $3,326,000 after buying an additional 27,468 shares during the period. Federated Hermes Inc. raised its stake in shares of Doximity by 33.8% in the third quarter. Federated Hermes Inc. now owns 23,635 shares of the company’s stock valued at $502,000 after buying an additional 5,977 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Doximity by 10.7% in the third quarter. Treasurer of the State of North Carolina now owns 52,608 shares of the company’s stock valued at $1,116,000 after buying an additional 5,070 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $27.97 on Friday. Doximity, Inc. has a one year low of $19.71 and a one year high of $36.29. The firm’s 50 day simple moving average is $26.65 and its two-hundred day simple moving average is $27.46. The stock has a market capitalization of $5.19 billion, a P/E ratio of 38.85, a PEG ratio of 5.20 and a beta of 1.23.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Doximity had a net margin of 31.04% and a return on equity of 17.44%. The business had revenue of $118.06 million for the quarter, compared to analysts’ expectations of $116.46 million. As a group, equities analysts expect that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.97, for a total transaction of $67,425.00. Following the transaction, the director now directly owns 10,258 shares in the company, valued at $276,658.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy S. Cabral sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now owns 10,258 shares in the company, valued at $307,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.97, for a total transaction of $67,425.00. Following the completion of the transaction, the director now owns 10,258 shares in the company, valued at approximately $276,658.26. The disclosure for this sale can be found here. Insiders have sold 46,500 shares of company stock worth $1,371,250 over the last ninety days. Insiders own 39.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOCS. William Blair restated an “outperform” rating on shares of Doximity in a research note on Friday, May 17th. Needham & Company LLC reissued a “hold” rating on shares of Doximity in a report on Friday, May 17th. Morgan Stanley reissued an “underweight” rating and issued a $25.00 price target on shares of Doximity in a report on Tuesday, April 23rd. Evercore ISI raised their target price on shares of Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. raised shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price on the stock in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Doximity has a consensus rating of “Hold” and a consensus target price of $28.73.

Doximity Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.