Insider Selling: Doximity, Inc. (NASDAQ:DOCS) Director Sells $300,000.00 in Stock

Doximity, Inc. (NASDAQ:DOCS) Director Timothy S. Cabral sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 10,258 shares in the company, valued at approximately $307,740. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Doximity Stock Performance

DOCS stock opened at $29.86 on Monday. The stock’s 50 day simple moving average is $26.22 and its 200 day simple moving average is $27.21. Doximity, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $36.29. The company has a market cap of $5.54 billion, a P/E ratio of 41.47, a price-to-earnings-growth ratio of 5.58 and a beta of 1.23.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, May 16th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Doximity had a return on equity of 17.44% and a net margin of 31.04%. The business had revenue of $118.06 million for the quarter, compared to the consensus estimate of $116.46 million. Equities analysts predict that Doximity, Inc. will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on DOCS shares. William Blair reiterated an “outperform” rating on shares of Doximity in a research report on Friday, May 17th. Evercore ISI upped their price target on Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Friday, May 17th. SVB Leerink started coverage on Doximity in a research report on Monday, February 26th. They issued a “market perform” rating and a $32.00 price target on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $25.00 price target on shares of Doximity in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price target on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.73.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Doximity during the 4th quarter worth approximately $35,995,000. Vanguard Group Inc. raised its stake in Doximity by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after buying an additional 616,157 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in shares of Doximity by 15.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock worth $64,555,000 after purchasing an additional 301,290 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in shares of Doximity in the fourth quarter worth approximately $2,845,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Doximity by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,066 shares of the company’s stock worth $14,834,000 after purchasing an additional 67,363 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

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.