Louisiana State Employees Retirement System Cuts Holdings in Doximity, Inc. (NASDAQ:DOCS)

Louisiana State Employees Retirement System trimmed its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,600 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Doximity were worth $968,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Doximity in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. grew its holdings in shares of Doximity by 111.3% in the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares during the period. Blue Trust Inc. grew its holdings in shares of Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Doximity in the 4th quarter worth approximately $40,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Doximity in the 1st quarter worth approximately $46,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Stock Down 0.6 %

DOCS stock opened at $36.52 on Thursday. Doximity, Inc. has a 52-week low of $19.71 and a 52-week high of $37.25. The stock’s fifty day simple moving average is $29.88 and its 200-day simple moving average is $28.04. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 5.12 and a beta of 1.22.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total value of $900,000.00. Following the transaction, the chief financial officer now directly owns 288,685 shares of the company’s stock, valued at approximately $8,660,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $28.00, for a total value of $70,000.00. Following the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $287,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer now directly owns 288,685 shares in the company, valued at $8,660,550. The disclosure for this sale can be found here. Insiders have sold 77,951 shares of company stock worth $2,471,018 over the last quarter. 39.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DOCS shares. Barclays upped their price target on Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Friday, August 9th. Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $27.00 to $19.00 in a report on Thursday, July 18th. William Blair reiterated an “outperform” rating on shares of Doximity in a report on Friday, May 17th. Finally, Truist Financial reiterated a “hold” rating and set a $35.00 target price (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.27.

Doximity Company 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.