Insider Selling: Doximity (NASDAQ:DOCS) Insider Sells 2,282 Shares of Stock

by · The Markets Daily

Doximity, Inc. (NASDAQ:DOCS – Get Free Report) insider Siddharth Sitaram sold 2,282 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $27.88, for a total value of $63,622.16. Following the sale, the insider owned 81,451 shares in the company, valued at $2,270,853.88. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Siddharth Sitaram also recently made the following trade(s):

  • On Tuesday, March 10th, Siddharth Sitaram sold 2,319 shares of Doximity stock. The stock was sold at an average price of $25.37, for a total value of $58,833.03.

Doximity Price Performance

Shares of Doximity stock traded down $0.39 on Thursday, hitting $24.25. 2,876,111 shares of the company’s stock traded hands, compared to its average volume of 3,756,602. Doximity, Inc. has a one year low of $23.53 and a one year high of $76.51. The firm’s 50-day moving average price is $33.01 and its two-hundred day moving average price is $50.64. The stock has a market capitalization of $4.48 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 4.10 and a beta of 1.44.

Doximity (NASDAQ:DOCS – Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. On average, analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Doximity declared that its board has approved a share buyback program on Thursday, February 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. KeyCorp set a $38.00 price target on Doximity in a research report on Friday, February 6th. Wells Fargo & Company cut their price objective on shares of Doximity from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Truist Financial reduced their target price on Doximity from $62.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Needham & Company LLC decreased their price objective on shares of Doximity from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, BTIG Research dropped their target price on shares of Doximity from $80.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Read Our Latest Stock Analysis on DOCS

Hedge Funds Weigh In On Doximity

Several institutional investors have recently made changes to their positions in DOCS. Vanguard Group Inc. raised its position in shares of Doximity by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock worth $588,281,000 after purchasing an additional 518,916 shares during the period. William Blair Investment Management LLC increased its position in shares of Doximity by 11.7% during the third quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock valued at $426,404,000 after acquiring an additional 609,775 shares during the last quarter. Capital World Investors raised its stake in shares of Doximity by 5.1% during the 4th quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock worth $250,398,000 after purchasing an additional 273,444 shares during the period. Geode Capital Management LLC boosted its stake in Doximity by 7.7% in the second quarter. Geode Capital Management LLC now owns 3,639,898 shares of the company’s stock valued at $223,829,000 after acquiring an additional 261,319 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Doximity by 6.2% in the third quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock valued at $245,601,000 after purchasing an additional 194,912 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Company Profile

(Get Free Report)

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.

Recommended Stories