Ameriprise Financial Inc. Has $16.32 Million Stake in Doximity, Inc. (NASDAQ:DOCS)

Ameriprise Financial Inc. lessened its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 305,674 shares of the company's stock after selling 4,934 shares during the quarter. Ameriprise Financial Inc. owned about 0.16% of Doximity worth $16,320,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Global Retirement Partners LLC boosted its position in Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. raised its position in shares of Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after purchasing an additional 235 shares during the period. Larson Financial Group LLC lifted its stake in shares of Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of Doximity in the fourth quarter worth $43,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Doximity during the 4th quarter worth $50,000. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Stock Down 0.1%

DOCS traded down $0.06 during trading on Thursday, reaching $50.69. 305,926 shares of the company's stock were exchanged, compared to its average volume of 2,086,848. The company has a market capitalization of $9.46 billion, a P/E ratio of 50.69, a PEG ratio of 4.10 and a beta of 1.41. The business has a 50 day moving average price of $56.78 and a 200 day moving average price of $57.94. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. As a group, research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer now owns 357,165 shares in the company, valued at $20,440,552.95. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director now directly owns 16,618 shares in the company, valued at approximately $946,062.74. This represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 37.40% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James dropped their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Truist Financial lowered their price target on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. Needham & Company LLC cut their price objective on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, May 16th. The Goldman Sachs Group decreased their target price on Doximity from $80.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and raised their target price for the company from $60.00 to $90.00 in a report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Doximity presently has a consensus rating of "Moderate Buy" and an average price target of $61.22.

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.