Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Doximity, Inc. by 68.7% in Q1, now holding 319,781 shares valued at approximately $18.6 million.
• Multiple institutional investors, including Charles Schwab and Vanguard, increased their holdings in Doximity, indicating a strong interest with 87.19% of the stock currently owned by institutional investors.
• Doximity reported an earnings per share of $0.36 for the last quarter, surpassing expectations, and has a consensus price target of $66.21 among analysts.

Deutsche Bank AG trimmed its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 68.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,781 shares of the company's stock after selling 700,949 shares during the period. Deutsche Bank AG owned 0.17% of Doximity worth $18,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DOCS. SG Americas Securities LLC bought a new stake in shares of Doximity during the 1st quarter valued at $65,702,000. Vanguard Group Inc. raised its position in shares of Doximity by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after purchasing an additional 990,923 shares during the period. Fundsmith LLP bought a new stake in shares of Doximity during the 4th quarter valued at $37,934,000. D. E. Shaw & Co. Inc. grew its stake in Doximity by 180.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 972,157 shares of the company's stock valued at $51,903,000 after acquiring an additional 625,467 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Doximity by 1,702.9% during the fourth quarter. AQR Capital Management LLC now owns 423,011 shares of the company's stock valued at $22,585,000 after acquiring an additional 399,548 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Transactions at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at approximately $948,721.62. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Regina M. Benjamin sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director owned 16,618 shares of the company's stock, valued at approximately $997,080. The trade was a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,000 shares of company stock valued at $2,140,940. Corporate insiders own 31.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Bank of America lifted their price objective on shares of Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Raymond James Financial boosted their price target on shares of Doximity from $65.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, William Blair restated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Doximity presently has a consensus rating of "Moderate Buy" and an average price target of $66.21.

Doximity Stock Performance

NASDAQ DOCS traded up $1.58 during mid-day trading on Friday, reaching $65.12. 1,753,677 shares of the stock were exchanged, compared to its average volume of 2,352,537. The business's 50 day moving average is $60.02 and its 200-day moving average is $60.26. Doximity, Inc. has a 1 year low of $34.34 and a 1 year high of $85.21. The company has a market capitalization of $12.20 billion, a P/E ratio of 65.12, a P/E/G ratio of 4.10 and a beta of 1.36.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. Doximity's revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

About Doximity

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.