Doximity (NYSE:DOCS) Director Kira Scherer Wampler Sells 9,000 Shares

Key Points

• Doximity director Kira Scherer Wampler sold 9,000 shares on May 7 at an average price of $26.06, for total proceeds of $234,540. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her stake fell by about 31.21%.
• Doximity recently reported solid quarterly results, with EPS of $0.46 beating consensus by $0.01 and revenue rising 9.8% year over year. The company also posted a strong net margin of 37.54%.
• The company authorized a $500 million stock buyback, covering up to 8% of outstanding shares, which typically signals management believes the stock may be undervalued. Analysts currently rate the stock a Moderate Buy with a consensus price target of $41.26.

Doximity, Inc. (NYSE:DOCS - Get Free Report) Director Kira Scherer Wampler sold 9,000 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the transaction, the director owned 19,839 shares in the company, valued at approximately $517,004.34. This represents a 31.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kira Scherer Wampler also recently made the following trade(s):

• On Tuesday, March 3rd, Kira Scherer Wampler sold 2,000 shares of Doximity stock. The shares were sold at an average price of $26.00, for a total value of $52,000.00.

Doximity Price Performance

Doximity stock traded down $0.06 during mid-day trading on Friday, hitting $25.97. The stock had a trading volume of 2,075,209 shares, compared to its average volume of 3,352,893. The firm's 50-day moving average is $24.22. Doximity, Inc. has a 12 month low of $20.55 and a 12 month high of $76.51. The firm has a market cap of $4.80 billion, a PE ratio of 21.65, a PEG ratio of 1.83 and a beta of 1.36.

Doximity (NYSE:DOCS - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. During the same quarter last year, the firm posted $0.45 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts forecast that Doximity, Inc. will post 1.11 earnings per share for the current year.

Doximity declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DOCS shares. Canaccord Genuity Group set a $34.00 price objective on shares of Doximity and gave the stock a "buy" rating in a research note on Monday, February 9th. Wells Fargo & Company reduced their price objective on shares of Doximity from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, February 6th. Wall Street Zen downgraded Doximity from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Zacks Research raised Doximity from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Freedom Capital raised Doximity to a "strong-buy" rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.26.

Institutional Investors Weigh In On Doximity

Several hedge funds have recently added to or reduced their stakes in DOCS. Root Financial Partners LLC acquired a new stake in Doximity during the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. lifted its position in Doximity by 59.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company's stock worth $35,000 after acquiring an additional 179 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company's stock worth $35,000 after acquiring an additional 397 shares during the last quarter. Toth Financial Advisory Corp lifted its position in Doximity by 100.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company's stock worth $44,000 after acquiring an additional 500 shares during the last quarter. Finally, Atlantic Union Bankshares Corp lifted its position in Doximity by 136.9% during the third quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company's stock worth $45,000 after acquiring an additional 356 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.

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