Jefferies Financial Group Inc. Sells 13,195 Shares of Doximity, Inc. (NASDAQ:DOCS)

Key Points

• Jefferies Financial Group Inc. significantly reduced its stake in Doximity, Inc. by 72.8%, selling 13,195 shares, and now holds 4,936 shares valued at $286,000.
• Doximity reported a 15.2% year-over-year revenue increase and topped earnings estimates with $0.36 EPS for the last quarter, beating the expected $0.31.
• Multiple analysts raised their price targets for Doximity, with a consensus rating of "Moderate Buy" and an average target price of $65.26.

Jefferies Financial Group Inc. decreased its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 72.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,936 shares of the company's stock after selling 13,195 shares during the period. Jefferies Financial Group Inc.'s holdings in Doximity were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. LPL Financial LLC boosted its holdings in shares of Doximity by 5.5% in the fourth quarter. LPL Financial LLC now owns 75,757 shares of the company's stock worth $4,045,000 after buying an additional 3,967 shares during the period. Norges Bank acquired a new position in Doximity during the fourth quarter valued at approximately $4,368,000. O Shaughnessy Asset Management LLC acquired a new position in Doximity during the fourth quarter valued at approximately $301,000. Wellington Management Group LLP acquired a new stake in shares of Doximity in the fourth quarter worth $355,000. Finally, Alliancebernstein L.P. grew its stake in shares of Doximity by 11.2% in the fourth quarter. Alliancebernstein L.P. now owns 176,191 shares of the company's stock worth $9,407,000 after acquiring an additional 17,700 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DOCS shares. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Robert W. Baird decreased their price target on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. KeyCorp lifted their price objective on Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Evercore ISI raised Doximity from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $50.00 to $70.00 in a report on Wednesday, July 9th. Finally, Bank of America lifted their price objective on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Ten investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $66.21.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director directly owned 6,360 shares in the company, valued at $381,600. This trade 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 can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $57.09, for a total value of $114,180.00. Following the completion of the sale, the director owned 16,618 shares of the company's stock, valued at approximately $948,721.62. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,000 shares of company stock worth $2,140,940 over the last three months. 31.30% of the stock is currently owned by company insiders.

Doximity Stock Down 1.4%

DOCS stock traded down $0.88 during midday trading on Tuesday, reaching $60.95. The stock had a trading volume of 739,832 shares, compared to its average volume of 2,359,830. The business has a fifty day simple moving average of $59.41 and a two-hundred day simple moving average of $60.10. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 4.10 and a beta of 1.36. Doximity, Inc. has a twelve month low of $34.34 and a twelve month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. On average, 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.