Skandinaviska Enskilda Banken AB publ Reduces Holdings in Doximity, Inc. (NASDAQ:DOCS)

Key Points

• Skandinaviska Enskilda Banken AB significantly decreased its stake in Doximity by 84.8%, selling 744,700 shares, and now holds only 134,000 shares valued at approximately $7.78 million.
• Analyst ratings for Doximity are mixed, with an average rating of "Moderate Buy" and a consensus price target of $64.89, indicating moderate confidence in the stock's future performance.
• Insider selling activity includes CFO Anna Bryson's sale of 45,000 shares for about $2.58 million, representing a notable 11.19% decrease in her ownership stake.

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 84.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,000 shares of the company's stock after selling 744,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Doximity worth $7,776,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DOCS. QSV Equity Investors LLC boosted its holdings in Doximity by 0.3% in the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company's stock valued at $3,244,000 after purchasing an additional 186 shares during the last quarter. Amalgamated Bank boosted its holdings in Doximity by 0.3% in the first quarter. Amalgamated Bank now owns 60,928 shares of the company's stock valued at $3,536,000 after purchasing an additional 186 shares during the last quarter. Greenleaf Trust boosted its holdings in Doximity by 5.4% in the first quarter. Greenleaf Trust now owns 4,492 shares of the company's stock valued at $261,000 after purchasing an additional 230 shares during the last quarter. Spire Wealth Management boosted its holdings 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 purchasing an additional 260 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after purchasing an additional 287 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOCS has been the topic of several recent research reports. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Monday, June 2nd. Bank of America upped their price objective on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Canaccord Genuity Group decreased their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research report on Friday, May 16th. 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 research report on Tuesday, May 27th. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Ten 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 presently has an average rating of "Moderate Buy" and an average price target of $64.89.

Doximity Stock Performance

Shares of DOCS traded up $0.05 during mid-day trading on Friday, hitting $60.70. 786,047 shares of the company were exchanged, compared to its average volume of 2,379,456. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21. The company has a 50 day moving average of $57.67 and a 200-day moving average of $59.62. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 60.70, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping 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%. The business's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $381,600. This represents a 61.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer owned 357,165 shares of the company's stock, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their position. 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 quarter. Insiders own 37.40% of the company's stock.

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.