Doximity, Inc. (NASDAQ:DOCS) Director Timothy S. Cabral Sells 10,000 Shares of Stock

Doximity, Inc. (NASDAQ:DOCS) Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the director now directly owns 6,360 shares of the company’s stock, valued at approximately $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Doximity Stock Up 1.3%

DOCS opened at $61.19 on Friday. The company has a market cap of $11.49 billion, a P/E ratio of 61.19, a price-to-earnings-growth ratio of 4.10 and a beta of 1.33. The firm’s 50-day moving average price is $56.21 and its 200-day moving average price is $58.74. Doximity, Inc. has a 52-week low of $25.00 and a 52-week high of $85.21.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 business posted $0.25 EPS. Doximity’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after purchasing an additional 440 shares during the last quarter. VSM Wealth Advisory LLC purchased a new stake in Doximity in the first quarter valued at approximately $29,000. Allworth Financial LP boosted its position in Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $32,000 after buying an additional 287 shares during the last quarter. National Bank of Canada FI acquired a new position in Doximity in the 1st quarter worth approximately $33,000. Finally, Spire Wealth Management raised its position in Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company’s stock worth $36,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DOCS shares. BTIG Research upgraded Doximity from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, June 2nd. Truist Financial cut their target price on shares of Doximity from $58.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, May 16th. Raymond James Financial lowered their price target on shares of Doximity from $83.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Morgan Stanley dropped their price objective on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, Needham & Company LLC reduced their price objective on shares of Doximity from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, May 16th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Doximity presently has an average rating of “Moderate Buy” and a consensus price target of $63.11.

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.