Federated Hermes Inc. Buys 20,422 Shares of Doximity, Inc. (NASDAQ:DOCS)

Key Points

• Federated Hermes Inc. increased its stake in Doximity, acquiring an additional 20,422 shares, bringing its total holdings to 276,971 shares valued at approximately $16 million.
• Insider trading activity included Timothy S. Cabral selling 10,000 shares for $600,000, representing a 61.12% decrease in ownership, while another director, Kira Scherer Wampler, also sold shares, reflecting a broader trend of insiders divesting.
• Doximity's stock saw a 2.5% drop recently, with analysts setting a consensus target price of approximately $64.89 and noting its strong quarterly earnings exceeding expectations.

Federated Hermes Inc. raised its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 8.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 276,971 shares of the company's stock after acquiring an additional 20,422 shares during the period. Federated Hermes Inc. owned approximately 0.15% of Doximity worth $16,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fiera Capital Corp raised its position in shares of Doximity by 1.6% during the 1st quarter. Fiera Capital Corp now owns 309,630 shares of the company's stock valued at $17,968,000 after acquiring an additional 4,915 shares during the last quarter. Fielder Capital Group LLC raised its position in shares of Doximity by 5.8% during the 1st quarter. Fielder Capital Group LLC now owns 5,806 shares of the company's stock valued at $337,000 after acquiring an additional 318 shares during the last quarter. Bryce Point Capital LLC raised its position in shares of Doximity by 38.7% during the 1st quarter. Bryce Point Capital LLC now owns 15,350 shares of the company's stock valued at $891,000 after acquiring an additional 4,279 shares during the last quarter. LPL Financial LLC raised its position in shares of Doximity by 41.5% during the 1st quarter. LPL Financial LLC now owns 107,225 shares of the company's stock valued at $6,222,000 after acquiring an additional 31,468 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Doximity by 15.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,673 shares of the company's stock valued at $2,070,000 after buying an additional 4,794 shares during the period. Institutional investors own 87.19% of the company's stock.

Insider Transactions at Doximity

In other 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 transaction of $600,000.00. Following the completion of the transaction, the director directly owned 6,360 shares in the company, valued at $381,600. This represents a 61.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $57.09, for a total transaction of $114,180.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $948,721.62. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $1,825,940 in the last three months. Insiders own 37.40% of the company's stock.

Doximity Trading Down 2.5%

Shares of NASDAQ DOCS opened at $57.30 on Friday. The company has a fifty day moving average price of $58.39 and a 200 day moving average price of $59.79. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21. The firm has a market cap of $10.76 billion, a PE ratio of 57.30, a PEG ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the business posted $0.25 earnings per share. The business's revenue for the quarter was up 17.1% on a year-over-year basis. Equities research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DOCS shares. KeyCorp boosted their price target on shares of Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, July 14th. William Blair reissued an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Mizuho decreased their price target on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, May 16th. JPMorgan Chase & Co. decreased their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Finally, Truist Financial boosted their price target on shares of Doximity from $52.00 to $61.00 and gave the company a "hold" rating in a 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 issued a strong buy rating to the company. According to data from MarketBeat, Doximity currently has a consensus rating of "Moderate Buy" and an average target price of $64.89.

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.

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