Doximity, Inc. (NASDAQ:DOCS) Director Regina M. Benjamin Sells 5,000 Shares

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $60.04, for a total transaction of $300,200.00. Following the completion of the transaction, the director directly owned 16,618 shares in the company, valued at $997,744.72. This represents a 23.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Doximity Stock Up 0.3%

Shares of DOCS traded up $0.18 during midday trading on Friday, reaching $60.26. 1,616,681 shares of the stock were exchanged, compared to its average volume of 2,172,605. The stock's 50 day simple moving average is $57.17 and its 200 day simple moving average is $59.17. The company has a market cap of $11.32 billion, a P/E ratio of 60.26, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a twelve month low of $25.00 and a twelve month high of $85.21.

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

Analyst Upgrades and Downgrades

DOCS has been the subject of several recent analyst reports. Evercore ISI upgraded shares of Doximity from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $50.00 to $70.00 in a report on Wednesday. Canaccord Genuity Group decreased their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Morgan Stanley cut their target price on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Truist Financial reduced their target price on Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a report on Friday, May 16th. Finally, Needham & Company LLC lowered their price target on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity presently has an average rating of "Moderate Buy" and an average target price of $64.42.

Institutional Investors Weigh In On Doximity

A number of hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC lifted its stake in shares of Doximity by 3.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 14,945 shares of the company's stock valued at $917,000 after acquiring an additional 442 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in Doximity during the 2nd quarter worth $1,459,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Doximity in the 2nd quarter worth about $320,000. Lifestyle Asset Management Inc. raised its position in Doximity by 4.9% in the second quarter. Lifestyle Asset Management Inc. now owns 6,312 shares of the company's stock valued at $387,000 after purchasing an additional 293 shares during the last quarter. Finally, MRA Advisory Group boosted its stake in shares of Doximity by 57.9% during the second quarter. MRA Advisory Group now owns 13,733 shares of the company's stock valued at $842,000 after purchasing an additional 5,038 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.

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