Canada Pension Plan Investment Board Sells 47,900 Shares of Doximity, Inc. $DOCS

Key Points

• The Canada Pension Plan Investment Board sold 47,900 shares of Doximity, Inc., reducing its stake by 39.3%, and now owns 74,100 shares valued at approximately $4.3 million.
• Doximity's stock is currently valued at $67.26 with a market cap of $12.6 billion, and analysts expect it to post 0.99 earnings per share for the current year.
• Recent insider transactions included significant sales by directors, with a total of 32,000 shares sold worth nearly $1.93 million in the last ninety days.

Canada Pension Plan Investment Board lessened its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 39.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,100 shares of the company's stock after selling 47,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in Doximity were worth $4,300,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC purchased a new position in shares of Doximity during the 4th quarter valued at about $726,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Doximity by 2.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,993 shares of the company's stock worth $854,000 after acquiring an additional 360 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Doximity during the fourth quarter worth about $15,697,000. Balyasny Asset Management L.P. acquired a new position in Doximity during the fourth quarter worth about $4,495,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Doximity during the fourth quarter worth about $1,806,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the transaction, the director directly owned 6,360 shares in the company, valued at approximately $381,600. This represents a 61.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $63.00, for a total transaction of $315,000.00. Following the sale, the director directly owned 16,618 shares in the company, valued at approximately $1,046,934. The trade was a 23.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock worth $1,929,380. Company insiders own 31.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DOCS shares. Piper Sandler upped their price target on Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the stock a "neutral" rating in a report on Wednesday, May 21st. William Blair reiterated an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Evercore ISI raised Doximity from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $50.00 to $70.00 in a report on Wednesday, July 9th. Finally, KeyCorp increased their price objective on shares of Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.21.

Doximity Stock Performance

Shares of NASDAQ:DOCS traded up $0.56 on Monday, hitting $69.90. The stock had a trading volume of 591,249 shares, compared to its average volume of 2,245,643. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 70.12, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a twelve month low of $36.12 and a twelve month high of $85.21. The firm's 50 day moving average price is $62.66 and its 200-day moving average price is $59.83.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same period last year, the business earned $0.28 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, sell-side analysts predict that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity 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.