Cresset Asset Management LLC Sells 7,227 Shares of Doximity, Inc. $DOCS

Key Points

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Cresset Asset Management LLC lowered its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,505 shares of the company's stock after selling 7,227 shares during the quarter. Cresset Asset Management LLC's holdings in Doximity were worth $3,337,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. VSM Wealth Advisory LLC bought a new stake in shares of Doximity in the 1st quarter valued at approximately $29,000. Allworth Financial LP lifted its position in shares of Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after buying an additional 287 shares during the period. National Bank of Canada FI acquired a new stake in Doximity in the 1st quarter valued at $33,000. Spire Wealth Management grew its position in Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after acquiring an additional 260 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in Doximity during the fourth quarter worth $50,000. Institutional investors and hedge funds own 87.19% of the company's stock.

Analysts Set New Price Targets

DOCS has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Doximity from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Monday, August 11th. KeyCorp lifted their price target on shares of Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, July 14th. William Blair restated an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Morgan Stanley decreased their price objective 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. Finally, Mizuho cut their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" 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 issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $66.21.

Insiders Place Their Bets

In other Doximity 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 completion of the sale, the director owned 6,360 shares of the company's stock, valued at approximately $381,600. This represents a 61.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Regina M. Benjamin sold 10,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 16,618 shares in the company, valued at approximately $997,080. This trade represents a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,000 shares of company stock worth $2,140,940. Insiders own 31.30% of the company's stock.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $65.94 on Tuesday. Doximity, Inc. has a fifty-two week low of $35.32 and a fifty-two week high of $85.21. The firm has a market capitalization of $12.35 billion, a P/E ratio of 65.94, a P/E/G ratio of 4.10 and a beta of 1.36. The company's 50 day simple moving average is $60.18 and its 200 day simple moving average is $60.32.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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 company posted $0.28 EPS. Doximity's quarterly revenue was up 15.2% compared to the same quarter last year. Sell-side analysts expect that Doximity, Inc. will post 0.99 EPS for the current fiscal 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.

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