Central Pacific Bank Trust Division Reduces Position in Doximity, Inc. (NASDAQ:DOCS)

Central Pacific Bank Trust Division lessened its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 15.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,740 shares of the company’s stock after selling 680 shares during the period. Central Pacific Bank Trust Division’s holdings in Doximity were worth $163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC acquired a new stake in Doximity during the 1st quarter valued at approximately $27,000. Blue Trust Inc. lifted its stake in Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,193 shares during the period. Quarry LP lifted its stake in Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after acquiring an additional 131,253 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Doximity during the 1st quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. lifted its stake in Doximity by 80.0% during the 2nd 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 period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

NASDAQ:DOCS opened at $43.83 on Friday. The company has a fifty day moving average of $36.03 and a two-hundred day moving average of $30.00. The stock has a market capitalization of $8.13 billion, a PE ratio of 60.88, a P/E/G ratio of 5.80 and a beta of 1.29. Doximity, Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $43.99.

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 analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. Doximity had a net margin of 32.53% and a return on equity of 19.26%. Research analysts forecast that Doximity, Inc. will post 0.8 earnings per share for the current year.

Insider Transactions at Doximity

In other news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction on 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 $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction on 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 $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $28.22, for a total transaction 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 $346,231.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,451 shares of company stock valued at $1,201,018 over the last 90 days. 39.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company cut shares of Doximity from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $27.00 to $19.00 in a research note on Thursday, July 18th. Robert W. Baird boosted their target price on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Evercore ISI boosted their target price on shares of Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a research note on Friday, August 9th. Truist Financial reiterated a “hold” rating and issued a $35.00 target price (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Finally, Needham & Company LLC upgraded shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Friday, August 9th. Two equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.42.

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.