Ieq Capital LLC Sells 1,806 Shares of Doximity, Inc. (NASDAQ:DOCS)

Ieq Capital LLC reduced its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 1.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 97,333 shares of the company’s stock after selling 1,806 shares during the period. Ieq Capital LLC owned about 0.05% of Doximity worth $2,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DOCS. LRI Investments LLC bought a new stake in Doximity during the 1st quarter valued at $27,000. Blue Trust Inc. increased its position in shares of Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Doximity in the first quarter valued at about $46,000. First Horizon Advisors Inc. raised its holdings in shares of Doximity by 80.0% during the second quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after acquiring an additional 760 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Doximity by 19.7% in the 2nd quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock valued at $72,000 after purchasing an additional 427 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity 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 completion of the sale, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Doximity news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction dated 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 directly owns 309,627 shares in the company, valued at $10,836,945. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction dated 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 owns 12,269 shares in the company, valued at approximately $346,231.18. The disclosure for this sale can be found here. Insiders have sold a total of 37,951 shares of company stock worth $1,271,018 in the last three months. Insiders own 39.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DOCS. Canaccord Genuity Group upped their target price on Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Bank of America upped their price target on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Morgan Stanley increased their target price on Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Doximity currently has a consensus rating of “Hold” and a consensus target price of $32.42.

Doximity Price Performance

DOCS opened at $40.88 on Friday. The company has a market capitalization of $7.58 billion, a PE ratio of 56.78, a price-to-earnings-growth ratio of 5.15 and a beta of 1.27. The business has a 50-day moving average of $33.47 and a 200-day moving average of $29.08. Doximity, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $41.05.

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

About Doximity

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.