Doximity (NYSE:DOCS) CAO Sells $44,143.80 in Stock

Doximity, Inc. (NYSE:DOCS) CAO Siddharth Sitaram sold 1,770 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $24.94, for a total transaction of $44,143.80. Following the transaction, the chief accounting officer owned 97,004 shares in the company, valued at $2,419,279.76. This represents a 1.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 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 transaction of $49,882.04.

Doximity Price Performance

Shares of DOCS opened at $25.81 on Thursday. The company has a 50-day simple moving average of $22.00 and a two-hundred day simple moving average of $23.43. The firm has a market capitalization of $4.60 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 19.51 and a beta of 1.29. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51.

Doximity (NYSE:DOCS) last posted its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $0.36 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts expect that Doximity, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on DOCS shares. Truist Financial raised their price objective on Doximity from $19.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, August 13th. Zacks Research raised shares of Doximity from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. BTIG Research lowered shares of Doximity from a “buy” rating to a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Doximity in a research report on Wednesday, August 12th. Finally, Leerink Partners dropped their price objective on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Two investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DOCS. Royal Bank of Canada raised its stake in Doximity by 24.2% during the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after buying an additional 20,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Doximity by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after acquiring an additional 210 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Doximity by 613.7% in the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after acquiring an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Doximity by 33.3% during the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after acquiring an additional 63,873 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Doximity during the first quarter valued at $283,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

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.