Commonwealth Equity Services LLC Cuts Stake in Doximity, Inc. (NASDAQ:DOCS)

Commonwealth Equity Services LLC cut its stake in Doximity, Inc. (NASDAQ:DOCS) by 40.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,531 shares of the company’s stock after selling 8,472 shares during the period. Commonwealth Equity Services LLC’s holdings in Doximity were worth $350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. William Blair Investment Management LLC purchased a new stake in Doximity during the first quarter worth approximately $148,823,000. Swedbank AB acquired a new position in shares of Doximity in the 1st quarter valued at $91,673,000. Norges Bank purchased a new position in shares of Doximity in the 4th quarter valued at $35,995,000. Capital World Investors raised its stake in Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after acquiring an additional 1,225,707 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Doximity by 33.5% in the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock valued at $66,594,000 after acquiring an additional 621,590 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on DOCS. Barclays upped their price objective on Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Morgan Stanley raised their price objective on shares of Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Bank of America raised their price target on Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, August 9th. Finally, Canaccord Genuity Group upped their target price on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.42.

Insider Activity

In related news, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Doximity news, Director Watkin Phoebe L. Yang sold 1,011 shares of Doximity stock in a transaction on Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the transaction, the director now owns 11,258 shares in the company, valued at approximately $287,529.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,951 shares of company stock worth $1,271,018. Company insiders own 39.40% of the company’s stock.

Doximity Trading Up 1.5 %

DOCS opened at $41.50 on Tuesday. Doximity, Inc. has a 1 year low of $19.71 and a 1 year high of $41.69. The stock’s 50 day simple moving average is $33.47 and its 200-day simple moving average is $29.10. The stock has a market cap of $7.70 billion, a PE ratio of 57.64, a P/E/G ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $126.68 million during 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%. Equities analysts forecast 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.