Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Doximity by 16.6%, selling 820,568 shares and now holds 4,123,174 shares worth approximately $239 million.
• Analysts' ratings on Doximity vary, with a consensus rating of "Moderate Buy" and an average price target of $64.89.
• Insider trading activity included significant share sales by directors, with one selling 10,000 shares valued at $600,000, indicating a 61.12% decrease in their position.

Baillie Gifford & Co. trimmed its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,123,174 shares of the company's stock after selling 820,568 shares during the period. Baillie Gifford & Co. owned about 2.21% of Doximity worth $239,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in Doximity during the first quarter valued at approximately $29,000. Allworth Financial LP lifted its position in Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after buying an additional 287 shares in the last quarter. Spire Wealth Management lifted its position in Doximity by 73.2% during the first quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after buying an additional 260 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Doximity during the fourth quarter valued at approximately $50,000. Finally, Huntington National Bank lifted its position in Doximity by 1,440.8% during the fourth quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $58,000 after buying an additional 1,023 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Price Performance

Shares of NASDAQ:DOCS traded down $0.28 during midday trading on Tuesday, reaching $60.72. The company had a trading volume of 494,321 shares, compared to its average volume of 2,358,608. The stock's fifty day moving average price is $57.82 and its 200-day moving average price is $59.69. The stock has a market capitalization of $11.40 billion, a P/E ratio of 60.72, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a one year low of $25.00 and a one year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter last year, the business earned $0.25 earnings per share. The company's revenue was up 17.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Regina M. Benjamin sold 5,000 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $60.04, for a total transaction of $300,200.00. Following the completion of the sale, the director owned 16,618 shares in the company, valued at $997,744.72. The trade was a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director owned 6,360 shares of the company's stock, valued at approximately $381,600. The trade was a 61.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,000 shares of company stock worth $4,400,970 in the last ninety days. 31.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOCS has been the topic of a number of recent research reports. William Blair reaffirmed an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Raymond James Financial reduced their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Mizuho reduced their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, May 16th. Robert W. Baird reduced their target price on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 20th. Finally, Truist Financial boosted their target price on shares of Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.89.

Doximity Company 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.