KLP Kapitalforvaltning AS Decreases Holdings in Doximity, Inc. (NASDAQ:DOCS)

Key Points

• KLP Kapitalforvaltning AS has decreased its stake in Doximity, Inc. by 13.7%, selling 5,800 shares during the first quarter, leaving it with 36,500 shares valued at approximately $2.12 million.
• Insiders at Doximity have sold a total of 76,000 shares worth about $4.4 million over the last three months, indicating a notable reduction in their ownership.
• Doximity's stock shows a market cap of $11.4 billion and recently reported $0.38 earnings per share, significantly above analysts' predictions of $0.27.

KLP Kapitalforvaltning AS lessened its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 13.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,500 shares of the company's stock after selling 5,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Doximity were worth $2,118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. QSV Equity Investors LLC lifted its position in Doximity by 0.3% during the 4th quarter. QSV Equity Investors LLC now owns 60,763 shares of the company's stock worth $3,244,000 after acquiring an additional 186 shares in the last quarter. Amalgamated Bank increased its position in Doximity by 0.3% in the first quarter. Amalgamated Bank now owns 60,928 shares of the company's stock worth $3,536,000 after buying an additional 186 shares during the period. Greenleaf Trust grew its stake in shares of Doximity by 5.4% in the first quarter. Greenleaf Trust now owns 4,492 shares of the company's stock worth $261,000 after purchasing an additional 230 shares in the last quarter. Spire Wealth Management boosted its stake 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. Finally, Allworth Financial LP boosted its stake 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. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Price Performance

NASDAQ:DOCS traded down $0.85 during trading hours on Wednesday, reaching $58.85. 1,653,261 shares of the company were exchanged, compared to its average volume of 2,363,944. The business has a 50 day moving average of $58.11 and a 200 day moving average of $59.68. The company has a market capitalization of $11.05 billion, a P/E ratio of 58.85, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company posted $0.25 earnings per share. The business's quarterly revenue was up 17.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the sale, the chief financial officer owned 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director directly owned 16,618 shares in the company, valued at $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,000 shares of company stock worth $4,400,970 in the last ninety days. Company insiders own 31.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Mizuho decreased their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Monday, June 2nd. Needham & Company LLC dropped their target price on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Raymond James Financial decreased their target price on Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Ten investment 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.89.

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.