Doximity, Inc. (NASDAQ:DOCS) Stock Holdings Lessened by Cim LLC

Cim LLC reduced its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,242 shares of the company’s stock after selling 212 shares during the quarter. Cim LLC’s holdings in Doximity were worth $3,750,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company’s stock worth $502,363,000 after purchasing an additional 2,571,580 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Doximity by 708.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock worth $80,641,000 after buying an additional 1,323,634 shares during the last quarter. Invesco Ltd. raised its position in Doximity by 525.1% during the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company’s stock valued at $67,934,000 after acquiring an additional 1,068,849 shares in the last quarter. Franklin Resources Inc. raised its position in Doximity by 1,178.3% during the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock valued at $56,711,000 after acquiring an additional 979,113 shares in the last quarter. Finally, Fundsmith LLP acquired a new stake in Doximity in the fourth quarter valued at approximately $37,934,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of Doximity in a research note on Friday, May 16th. Leerink Partners raised shares of Doximity from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $90.00 in a research report on Friday, February 7th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and raised their target price for the company from $31.00 to $78.00 in a report on Friday, February 7th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. Finally, Leerink Partnrs raised Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Doximity presently has an average rating of “Moderate Buy” and a consensus target price of $61.22.

Insider Buying and Selling

In related news, CFO Anna Bryson sold 45,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the sale, the chief financial officer now owns 357,165 shares of the company’s stock, valued at $20,440,552.95. The trade was a 11.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director now owns 16,618 shares in the company, valued at $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is owned by company insiders.

Doximity Stock Down 0.4%

Shares of DOCS stock opened at $51.06 on Tuesday. Doximity, Inc. has a 12 month low of $25.00 and a 12 month high of $85.21. The firm has a market cap of $9.53 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The stock has a 50 day moving average of $56.12 and a 200-day moving average of $58.23.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter last year, the company earned $0.25 EPS. Doximity’s revenue was up 17.1% on a year-over-year basis. As a group, equities analysts predict that Doximity, Inc. will post 0.99 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.