Hillsdale Investment Management Inc. Lowers Position in Doximity, Inc. (NASDAQ:DOCS)

Hillsdale Investment Management Inc. decreased its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 10.8% during the first quarter, HoldingsChannel reports. The firm owned 14,890 shares of the company’s stock after selling 1,800 shares during the period. Hillsdale Investment Management Inc.’s holdings in Doximity were worth $401,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DOCS. First Horizon Advisors Inc. lifted its position in Doximity by 111.3% in the fourth quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock valued at $28,000 after purchasing an additional 524 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Doximity in the fourth quarter worth about $40,000. Essex Investment Management Co. LLC purchased a new position in shares of Doximity in the 1st quarter valued at approximately $73,000. Central Pacific Bank Trust Division purchased a new position in Doximity during the 1st quarter valued at about $120,000. Finally, Jump Financial LLC bought a new stake in shares of Doximity in the 4th quarter worth approximately $202,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer now directly owns 288,685 shares in the company, valued at $8,660,550. 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 the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer now owns 288,685 shares of the company’s stock, valued at $8,660,550. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Overpeck sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.85, for a total value of $35,775.00. Following the completion of the sale, the insider now directly owns 108,609 shares of the company’s stock, valued at $2,590,324.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,500 shares of company stock valued at $1,373,825. 39.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Friday, May 17th. William Blair reaffirmed an “outperform” rating on shares of Doximity in a report on Friday, May 17th. Needham & Company LLC restated a “hold” rating on shares of Doximity in a research report on Friday, May 17th. Morgan Stanley reaffirmed an “underweight” rating and issued a $25.00 target price on shares of Doximity in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price objective on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Hold” and a consensus target price of $28.00.

Doximity Price Performance

Doximity stock traded up $0.55 during midday trading on Monday, reaching $28.77. The company had a trading volume of 1,114,601 shares, compared to its average volume of 1,680,796. The company has a market capitalization of $5.33 billion, a P/E ratio of 39.96, a P/E/G ratio of 5.28 and a beta of 1.22. The firm’s fifty day simple moving average is $27.79 and its 200-day simple moving average is $27.47. Doximity, Inc. has a 12-month low of $19.71 and a 12-month high of $36.03.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $118.06 million during the quarter, compared to analyst estimates of $116.46 million. Doximity had a net margin of 31.04% and a return on equity of 17.44%. On average, analysts expect that Doximity, Inc. will post 0.74 EPS 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.