Trust Point Inc. Sells 13,551 Shares of Doximity, Inc. (NASDAQ:DOCS)

Trust Point Inc. cut its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 47.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,258 shares of the company’s stock after selling 13,551 shares during the period. Trust Point Inc.’s holdings in Doximity were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in DOCS. Bank of Montreal Can raised its holdings in shares of Doximity by 43.4% in the second quarter. Bank of Montreal Can now owns 21,412 shares of the company’s stock valued at $599,000 after acquiring an additional 6,480 shares in the last quarter. Creative Planning increased its position in Doximity by 20.1% during the 2nd quarter. Creative Planning now owns 19,433 shares of the company’s stock valued at $544,000 after purchasing an additional 3,251 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Doximity in the 2nd quarter valued at about $270,000. GAMMA Investing LLC lifted its position in shares of Doximity by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after purchasing an additional 412 shares during the period. Finally, Perpetual Ltd bought a new position in shares of Doximity during the third quarter valued at approximately $441,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $33.00 to $53.00 in a research note on Thursday, November 14th. Stephens started coverage on Doximity in a research report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price target for the company. KeyCorp dropped their price objective on Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their target price on Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Truist Financial increased their price target on shares of Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Doximity has an average rating of “Hold” and an average target price of $53.12.

Doximity Stock Performance

Doximity stock opened at $58.91 on Wednesday. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The company has a market cap of $11.00 billion, a PE ratio of 67.72, a PEG ratio of 4.68 and a beta of 1.39. The business’s 50-day simple moving average is $54.89 and its two-hundred day simple moving average is $45.13.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Doximity had a net margin of 33.69% and a return on equity of 19.79%. The firm had revenue of $136.83 million during the quarter, compared to analysts’ expectations of $127.05 million. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, analysts predict that Doximity, Inc. will post 0.88 EPS for the current fiscal year.

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.