Rice Hall James & Associates LLC Reduces Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Rice Hall James & Associates LLC decreased its holdings in Doximity, Inc. (NASDAQ:DOCS) by 6.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 723,366 shares of the company’s stock after selling 51,078 shares during the quarter. Doximity accounts for 1.2% of Rice Hall James & Associates LLC’s portfolio, making the stock its 20th largest position. Rice Hall James & Associates LLC’s holdings in Doximity were worth $20,233,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new position in Doximity during the first quarter valued at $148,823,000. Swedbank AB purchased a new position in shares of Doximity during the 1st quarter valued at about $91,673,000. Janus Henderson Group PLC lifted its position in shares of Doximity by 33.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock valued at $66,594,000 after buying an additional 621,590 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of Doximity by 15.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock valued at $64,555,000 after acquiring an additional 301,290 shares during the period. Finally, Capital World Investors raised its stake in Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after acquiring an additional 1,225,707 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DOCS has been the subject of a number of analyst reports. William Blair reissued an “outperform” rating on shares of Doximity in a research note on Friday, May 17th. Barclays increased their price target on Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Friday, August 9th. Finally, Canaccord Genuity Group boosted their price target on Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.27.

Insiders Place Their Bets

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $28.22, for a total value of $54,746.80. Following the completion of the sale, the director now owns 12,269 shares in the company, valued at approximately $346,231.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Watkin Phoebe L. Yang sold 1,940 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the sale, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. The disclosure for this sale can be found here. Insiders sold 37,951 shares of company stock valued at $1,271,018 over the last three months. 39.40% of the stock is owned by company insiders.

Doximity Trading Down 1.1 %

Shares of NASDAQ DOCS opened at $36.54 on Wednesday. Doximity, Inc. has a 12-month low of $19.71 and a 12-month high of $37.55. The firm’s 50-day moving average price is $31.48 and its 200-day moving average price is $28.46. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 50.75, a P/E/G ratio of 5.11 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $126.68 million for the quarter, compared to analysts’ expectations of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. On average, equities analysts predict that Doximity, Inc. will post 0.79 EPS for the current fiscal year.

Doximity 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.