Cerity Partners LLC Lowers Holdings in Doximity, Inc. (NASDAQ:DOCS)

Cerity Partners LLC trimmed its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,520 shares of the company's stock after selling 4,771 shares during the period. Cerity Partners LLC's holdings in Doximity were worth $1,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after acquiring an additional 287 shares during the period. Axxcess Wealth Management LLC purchased a new stake in shares of Doximity in the 1st quarter worth about $254,000. New Mexico Educational Retirement Board boosted its position in shares of Doximity by 16.9% in the 1st quarter. New Mexico Educational Retirement Board now owns 27,700 shares of the company's stock worth $1,607,000 after buying an additional 4,000 shares in the last quarter. Greenleaf Trust boosted its position in shares of Doximity by 5.4% in the 1st quarter. Greenleaf Trust now owns 4,492 shares of the company's stock worth $261,000 after buying an additional 230 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Doximity by 33.9% in the 1st quarter. M&T Bank Corp now owns 11,521 shares of the company's stock worth $669,000 after buying an additional 2,920 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DOCS shares. Canaccord Genuity Group decreased their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. KeyCorp boosted their target price on shares of Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. The Goldman Sachs Group set a $50.00 target price on shares of Doximity and gave the company a "neutral" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Finally, Raymond James Financial cut their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.89.

Doximity Stock Down 2.5%

Doximity stock opened at $60.07 on Monday. The business's 50-day simple moving average is $57.47 and its 200 day simple moving average is $59.44. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 60.07, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 12-month low of $25.00 and a 12-month 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 (EPS) 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 quarter in the previous year, the company earned $0.25 EPS. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, sell-side analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Transactions at Doximity

In related news, Director Regina M. Benjamin sold 5,000 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $60.04, for a total value of $300,200.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at $997,744.72. The trade was a 23.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Monday, June 2nd. The shares were sold at an average price of $52.89, for a total value of $105,780.00. Following the completion of the sale, the director owned 16,618 shares of the company's stock, valued at $878,926.02. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,000 shares of company stock worth $4,400,970 in the last 90 days. 37.40% of the stock is owned by corporate insiders.

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.

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