Acadian Asset Management LLC Sells 55,843 Shares of Doximity, Inc. (NASDAQ:DOCS)

Acadian Asset Management LLC reduced its holdings in Doximity, Inc. (NASDAQ:DOCS) by 57.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,599 shares of the company’s stock after selling 55,843 shares during the quarter. Acadian Asset Management LLC’s holdings in Doximity were worth $1,133,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DOCS. Victory Capital Management Inc. increased its holdings in Doximity by 21.3% in the fourth quarter. Victory Capital Management Inc. now owns 32,863 shares of the company’s stock worth $921,000 after purchasing an additional 5,780 shares in the last quarter. Jump Financial LLC bought a new stake in Doximity in the fourth quarter worth approximately $202,000. Vanguard Personalized Indexing Management LLC bought a new stake in Doximity in the fourth quarter worth approximately $391,000. Norges Bank bought a new stake in Doximity in the fourth quarter worth approximately $35,995,000. Finally, Trexquant Investment LP increased its holdings in Doximity by 58.9% in the fourth quarter. Trexquant Investment LP now owns 99,966 shares of the company’s stock worth $2,803,000 after purchasing an additional 37,069 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $28.22, for a total value of $54,746.80. Following the transaction, the director now owns 12,269 shares of the company’s stock, valued at $346,231.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $28.22, for a total value of $54,746.80. Following the transaction, the director now directly owns 12,269 shares in the company, valued at approximately $346,231.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,951 shares of company stock valued at $1,271,018. Insiders own 39.40% of the company’s stock.

Doximity Stock Up 2.9 %

Shares of NASDAQ:DOCS opened at $39.32 on Monday. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 54.61, a PEG ratio of 5.15 and a beta of 1.27. Doximity, Inc. has a 12-month low of $19.71 and a 12-month high of $39.69. The business’s 50 day moving average is $32.16 and its 200 day moving average is $28.67.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The business had revenue of $126.68 million for the quarter, compared to analysts’ expectations of $119.88 million. As a group, equities research analysts expect that Doximity, Inc. will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Evercore ISI boosted their price objective on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a report on Friday, August 9th. Barclays boosted their price objective on Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Truist Financial restated a “hold” rating and set a $35.00 price objective (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Morgan Stanley boosted their price objective on Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Finally, Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.