Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in Doximity, Inc. (NASDAQ:DOCS) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,666 shares of the company’s stock after selling 9,275 shares during the quarter. Raymond James & Associates owned approximately 0.07% of Doximity worth $5,606,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DOCS. William Blair Investment Management LLC increased its stake in shares of Doximity by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after acquiring an additional 873,682 shares during the last quarter. Clearbridge Investments LLC increased its position in Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after purchasing an additional 387,200 shares in the last quarter. Swedbank AB acquired a new stake in Doximity during the 1st quarter worth approximately $91,673,000. Janus Henderson Group PLC boosted its holdings in Doximity by 33.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after acquiring an additional 621,590 shares during the period. Finally, Capital World Investors boosted its holdings in Doximity by 250.7% in 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 during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Stock Up 1.5 %

Shares of DOCS opened at $42.35 on Friday. Doximity, Inc. has a 12-month low of $20.28 and a 12-month high of $44.88. The firm has a market capitalization of $7.86 billion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 5.05 and a beta of 1.29. The stock’s fifty day simple moving average is $40.66 and its 200-day simple moving average is $32.33.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. Analysts anticipate that Doximity, Inc. will post 0.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Doximity from $26.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday. Truist Financial reiterated a “hold” rating and set a $35.00 target price (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $27.00 to $19.00 in a research note on Thursday, July 18th. Bank of America increased their target price on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Canaccord Genuity Group increased their target price on Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Doximity currently has an average rating of “Hold” and a consensus price target of $36.42.

Insider Buying and Selling

In other news, Director Watkin Phoebe L. Yang sold 1,011 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 11,258 shares of the company’s stock, valued at $287,529.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Anna Bryson sold 30,000 shares of the business’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 sale, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the sale, the director now owns 11,258 shares in the company, valued at $287,529.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is owned by corporate insiders.

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.