Bellevue Group AG Sells 119,970 Shares of Doximity, Inc. (NASDAQ:DOCS)

Bellevue Group AG decreased its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 45.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,065 shares of the company’s stock after selling 119,970 shares during the period. Bellevue Group AG’s holdings in Doximity were worth $3,877,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Doximity by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after acquiring an additional 616,157 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Doximity in the 4th quarter worth approximately $721,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Doximity by 21.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,247 shares of the company’s stock worth $624,000 after buying an additional 3,978 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Doximity by 78.2% in the 4th quarter. Pacer Advisors Inc. now owns 25,802 shares of the company’s stock worth $723,000 after buying an additional 11,324 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Doximity by 2.6% in the 4th quarter. Arizona State Retirement System now owns 31,950 shares of the company’s stock worth $896,000 after buying an additional 801 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th. William Blair restated an “outperform” rating on shares of Doximity in a research note on Friday, May 17th. Needham & Company LLC restated a “hold” rating on shares of Doximity in a research note on Friday, May 17th. JPMorgan Chase & Co. upgraded Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price on the stock in a research note on Thursday, April 25th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $25.00 target price on shares of Doximity in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Doximity has an average rating of “Hold” and an average target price of $28.00.

Doximity Stock Performance

Shares of NASDAQ DOCS traded up $0.19 during midday trading on Monday, hitting $28.35. 314,205 shares of the stock traded hands, compared to its average volume of 1,657,931. Doximity, Inc. has a one year low of $19.71 and a one year high of $36.03. The firm has a 50-day moving average of $28.05 and a two-hundred day moving average of $27.46. The firm has a market capitalization of $5.26 billion, a P/E ratio of 39.11, a PEG ratio of 5.27 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, May 16th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Doximity had a return on equity of 17.44% and a net margin of 31.04%. The company had revenue of $118.06 million for the quarter, compared to analysts’ expectations of $116.46 million. Equities analysts forecast that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Craig Overpeck sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.85, for a total value of $35,775.00. Following the transaction, the insider now directly owns 108,609 shares of the company’s stock, valued at approximately $2,590,324.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Doximity news, insider Craig Overpeck sold 1,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.85, for a total value of $35,775.00. Following the completion of the sale, the insider now owns 108,609 shares in the company, valued at approximately $2,590,324.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 10,258 shares of the company’s stock, valued at approximately $307,740. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,500 shares of company stock valued at $1,373,825. 39.40% of the stock is owned by company insiders.

Doximity Company 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.