Bank of America Corp DE Has $46.62 Million Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Bank of America Corp DE trimmed its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 35.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 873,132 shares of the company's stock after selling 485,109 shares during the quarter. Bank of America Corp DE owned approximately 0.47% of Doximity worth $46,617,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Shaker Investments LLC OH acquired a new position in shares of Doximity in the 4th quarter worth $559,000. Principal Financial Group Inc. grew its holdings in shares of Doximity by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company's stock valued at $15,695,000 after buying an additional 4,282 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Doximity during the fourth quarter valued at $362,000. Stratos Wealth Partners LTD. purchased a new position in shares of Doximity during the fourth quarter valued at $203,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Doximity by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company's stock valued at $19,698,000 after buying an additional 11,811 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now directly owns 16,618 shares of the company's stock, valued at $946,062.74. This represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Doximity Stock Down 10.0%

Shares of NASDAQ:DOCS traded down $5.85 on Friday, reaching $52.60. The company had a trading volume of 17,787,810 shares, compared to its average volume of 2,074,153. Doximity, Inc. has a twelve month low of $25.00 and a twelve month high of $85.21. The stock has a 50-day moving average price of $57.40 and a 200 day moving average price of $57.84. The stock has a market capitalization of $9.82 billion, a P/E ratio of 52.60, a P/E/G ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same period in the previous year, the company earned $0.25 earnings per share. The firm's revenue was up 17.1% compared to the same quarter last year. On average, sell-side analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James lowered their price target on Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday. Truist Financial lowered their price target on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a report on Friday. William Blair reiterated an "outperform" rating on shares of Doximity in a report on Friday. Canaccord Genuity Group lowered their price target on Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a report on Friday. Finally, Mizuho lowered their price target on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.78.

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.