Man Group plc Lowers Stake in Doximity, Inc. (NASDAQ:DOCS)

Man Group plc reduced its position in Doximity, Inc. (NASDAQ:DOCS) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,378 shares of the company’s stock after selling 47,771 shares during the quarter. Man Group plc owned 0.10% of Doximity worth $10,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. QSV Equity Investors LLC raised its holdings in shares of Doximity by 0.3% in the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company’s stock valued at $3,244,000 after acquiring an additional 186 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Doximity by 0.7% in the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company’s stock worth $1,586,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. raised its holdings in Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after purchasing an additional 235 shares in the last quarter. Fielder Capital Group LLC raised its holdings in Doximity by 4.5% in the fourth quarter. Fielder Capital Group LLC now owns 5,488 shares of the company’s stock worth $293,000 after purchasing an additional 235 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after purchasing an additional 250 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Price Performance

Shares of Doximity stock opened at $52.60 on Monday. The business has a 50-day moving average of $57.40 and a 200 day moving average of $57.95. Doximity, Inc. has a 12 month low of $25.00 and a 12 month high of $85.21. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the transaction, the director now owns 16,618 shares in the company, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the firm’s stock in a transaction dated 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 directly owns 357,165 shares in the company, valued at $20,440,552.95. This trade represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Company insiders own 37.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Doximity from $58.00 to $52.00 and set a “hold” rating on the stock in a report on Friday. KeyCorp dropped their target price on Doximity from $83.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Leerink Partnrs upgraded Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Wells Fargo & Company restated an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Finally, William Blair restated an “outperform” rating on shares of Doximity in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.78.

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.