Doximity (NASDAQ:DOCS) Director Sells $52,000.00 in Stock

by · The Markets Daily

Doximity, Inc. (NASDAQ:DOCS – Get Free Report) Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. Following the completion of the sale, the director owned 19,839 shares of the company’s stock, valued at approximately $515,814. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Doximity Stock Performance

Shares of NASDAQ:DOCS traded down $0.37 during trading on Thursday, reaching $26.07. 2,783,109 shares of the stock were exchanged, compared to its average volume of 3,917,191. The firm’s 50-day moving average price is $35.30 and its 200 day moving average price is $52.22. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a 12-month low of $23.53 and a 12-month high of $76.51.

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 the consensus estimate of $0.45 by $0.01. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. As a group, equities research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity announced that its board has authorized a stock repurchase plan on Thursday, February 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Doximity

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock valued at $588,281,000 after buying an additional 518,916 shares in the last quarter. William Blair Investment Management LLC raised its position in Doximity by 11.7% in the third quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock worth $426,404,000 after purchasing an additional 609,775 shares in the last quarter. Capital World Investors raised its position in Doximity by 5.1% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its stake in Doximity by 7.7% during the second quarter. Geode Capital Management LLC now owns 3,639,898 shares of the company’s stock worth $223,829,000 after purchasing an additional 261,319 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Doximity by 6.2% during 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 in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCS has been the subject of several analyst reports. Morgan Stanley reduced their price target on shares of Doximity from $65.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, February 6th. KeyCorp set a $38.00 price objective on shares of Doximity in a research report on Friday, February 6th. Barclays decreased their target price on shares of Doximity from $63.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Doximity in a report on Monday, December 29th. Finally, Mizuho reduced their price objective on shares of Doximity from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Get Our Latest Research Report on Doximity

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.

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