Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Trust Point Inc.

Trust Point Inc. lessened its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 57.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,534 shares of the company's stock after selling 8,724 shares during the period. Trust Point Inc.'s holdings in Doximity were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in shares of Doximity by 10,804.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,503 shares of the company's stock valued at $842,000 after purchasing an additional 14,370 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Doximity by 196.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company's stock worth $787,000 after buying an additional 8,995 shares during the period. Fifth Third Bancorp lifted its stake in Doximity by 16.3% in the first quarter. Fifth Third Bancorp now owns 3,833 shares of the company's stock valued at $222,000 after buying an additional 537 shares during the last quarter. Sarasin & Partners LLP purchased a new position in shares of Doximity during the first quarter worth approximately $3,499,000. Finally, Handelsbanken Fonder AB grew its position in shares of Doximity by 14.8% during the first quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock worth $1,979,000 after acquiring an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DOCS. 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. Mizuho lowered their price target on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. KeyCorp reduced their price objective on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. BTIG Research raised Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Monday, June 2nd. Finally, Morgan Stanley dropped their target price on Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.84.

Doximity Trading Up 4.6%

Shares of Doximity stock opened at $58.53 on Wednesday. The company has a 50-day moving average of $55.30 and a two-hundred day moving average of $58.52. Doximity, Inc. has a 12-month low of $25.00 and a 12-month high of $85.21. The stock has a market cap of $10.99 billion, a PE ratio of 58.53, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data 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%. The business's revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, sell-side analysts forecast that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insider Activity at Doximity

In other news, CFO Anna Bryson sold 45,000 shares of the company's 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 now directly owns 357,165 shares in the company, valued at $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the sale, the director now directly owns 16,618 shares in the company, valued at approximately $946,062.74. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,000 shares of company stock valued at $2,900,770. Insiders own 37.40% of the company's stock.

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.

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