Doximity (NYSE:DOCS) CAO Siddharth Sitaram Sells 1,770 Shares of Stock

Doximity, Inc. (NYSE:DOCS) CAO Siddharth Sitaram sold 1,770 shares of Doximity stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $24.94, for a total value of $44,143.80. Following the completion of the transaction, the chief accounting officer owned 97,004 shares in the company, valued at approximately $2,419,279.76. The trade was a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Siddharth Sitaram also recently made the following trade(s):

• On Monday, June 8th, Siddharth Sitaram sold 2,444 shares of Doximity stock. The stock was sold at an average price of $20.41, for a total value of $49,882.04.

Doximity Stock Down 0.8%

Shares of DOCS stock opened at $24.60 on Tuesday. The business has a fifty day simple moving average of $21.80 and a 200 day simple moving average of $23.62. The company has a market cap of $4.38 billion, a P/E ratio of 28.94, a P/E/G ratio of 17.10 and a beta of 1.29. Doximity, Inc. has a twelve month low of $17.15 and a twelve month high of $76.51.

Doximity (NYSE:DOCS) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The firm had revenue of $156.62 million for the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Doximity, Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Trading of Doximity

Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after purchasing an additional 397 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Doximity in the 3rd quarter valued at $111,000. Farther Finance Advisors LLC boosted its stake in shares of Doximity by 35.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock valued at $68,000 after purchasing an additional 405 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Doximity during the fourth quarter worth $78,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Doximity during the fourth quarter worth $87,000. 87.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DOCS has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Doximity in a research note on Friday, August 7th. Wells Fargo & Company downgraded shares of Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 price target for the company. in a report on Monday, August 10th. Mizuho dropped their price target on Doximity from $34.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Morgan Stanley cut their price objective on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, BMO Capital Markets restated a “market perform” rating and set a $30.00 price objective on shares of Doximity in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Hold” and a consensus target price of $32.10.

About Doximity

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.