Insider Selling: Doximity (NYSE:DOCS) CAO Sells 2,077 Shares of Stock

Doximity, Inc. (NYSE:DOCS) CAO Siddharth Sitaram sold 2,077 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $26.02, for a total value of $54,043.54. Following the completion of the sale, the chief accounting officer owned 96,045 shares in the company, valued at approximately $2,499,090.90. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Thursday, August 13th, Siddharth Sitaram sold 1,770 shares of Doximity stock. The stock was sold at an average price of $24.94, for a total value of $44,143.80.

Doximity Stock Up 0.4%

Shares of NYSE:DOCS traded up $0.10 during mid-day trading on Wednesday, reaching $25.91. 2,282,684 shares of the stock were exchanged, compared to its average volume of 4,075,272. The company has a market cap of $4.62 billion, a P/E ratio of 30.48, a P/E/G ratio of 20.64 and a beta of 1.25. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The stock’s 50 day simple moving average is $23.82 and its 200-day simple moving average is $23.11.

Doximity (NYSE:DOCS) last released its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.16 by $0.13. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The firm had revenue of $156.62 million for the quarter. During the same quarter in the previous year, the firm posted $0.36 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Analysts anticipate that Doximity, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup lowered shares of Doximity to an “underperform” rating in a research report on Monday, June 29th. Wells Fargo & Company downgraded shares of Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 target price for the company. in a research report on Monday, August 10th. Canaccord Genuity Group set a $36.00 price target on shares of Doximity in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Freedom Capmkts downgraded shares of Doximity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.18.

Hedge Funds Weigh In On Doximity

A number of institutional investors have recently added to or reduced their stakes in DOCS. Leonteq Securities AG acquired a new stake in Doximity in the 4th quarter valued at about $78,000. Parallel Advisors LLC raised its position in shares of Doximity by 111.0% in the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock valued at $60,000 after purchasing an additional 1,347 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Doximity by 937.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock valued at $66,000 after purchasing an additional 2,560 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Doximity by 95.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,839 shares of the company’s stock worth $126,000 after buying an additional 1,385 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Doximity by 264.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,014 shares of the company’s stock worth $133,000 after buying an additional 2,187 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Company Profile

Doximity, Inc operates a digital platform for U.S. medical professionals. Its network enables physicians and other healthcare providers to communicate, collaborate, access medical news and research, maintain professional profiles, and connect with colleagues and patients.

The company offers a range of tools for healthcare organizations and professionals, including telehealth services, digital faxing, scheduling and communication products, and solutions for recruiting and marketing. Doximity also provides pharmaceutical and healthcare companies with digital engagement services designed to reach medical professionals through its platform.

Founded in 2010, Doximity is headquartered in San Francisco and primarily serves the United States healthcare market.