Los Angeles Capital Management LLC Sells 145,242 Shares of Doximity, Inc. (NASDAQ:DOCS)

Los Angeles Capital Management LLC cut its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 16.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 725,080 shares of the company's stock after selling 145,242 shares during the quarter. Los Angeles Capital Management LLC owned 0.39% of Doximity worth $42,076,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its holdings in Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after purchasing an additional 287 shares during the last quarter. Spire Wealth Management raised its holdings in Doximity by 73.2% in the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after acquiring an additional 260 shares in the last quarter. Optimum Investment Advisors acquired a new position in Doximity in the 4th quarter valued at $43,000. Kapitalo Investimentos Ltda acquired a new position in Doximity in the 4th quarter valued at $50,000. Finally, Huntington National Bank raised its holdings in Doximity by 1,440.8% in the 4th quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $58,000 after acquiring an additional 1,023 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on DOCS. Raymond James Financial lowered their price target on Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Truist Financial upped their target price on Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a report on Thursday. KeyCorp upped their target price on Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Bank of America upped their target price on Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Finally, The Goldman Sachs Group set a $50.00 target price on Doximity and gave the stock a "neutral" rating in a report on Wednesday, May 21st. Ten equities research 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 company presently has an average rating of "Moderate Buy" and an average target price of $64.89.

Doximity Price Performance

Doximity stock opened at $60.07 on Friday. Doximity, Inc. has a one year low of $25.00 and a one year high of $85.21. The business has a fifty day moving average price of $57.47 and a 200-day moving average price of $59.40. The firm has a market capitalization of $11.28 billion, a P/E ratio of 60.07, 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 earnings per share (EPS) for the quarter, beating 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 firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share. Sell-side analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Transactions at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $52.89, for a total transaction of $105,780.00. Following the transaction, the director owned 16,618 shares in the company, valued at approximately $878,926.02. This represents a 10.74% 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, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction that occurred on 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 approximately $381,600. This represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,000 shares of company stock worth $4,400,970. 37.40% of the stock is currently owned by company insiders.

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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