Man Group plc Sells 47,771 Shares of Doximity, Inc. (NASDAQ:DOCS)

Man Group plc lowered its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,378 shares of the company's stock after selling 47,771 shares during the quarter. Man Group plc owned approximately 0.10% of Doximity worth $10,004,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock worth $598,159,000 after acquiring an additional 485,102 shares during the last quarter. FMR LLC increased its holdings in shares of Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after purchasing an additional 2,571,580 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Doximity by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock valued at $157,668,000 after purchasing an additional 95,458 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Doximity by 2.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock valued at $124,644,000 after purchasing an additional 62,366 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after buying an additional 164,200 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DOCS. Robert W. Baird decreased their price target on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday. Truist Financial lowered their target price on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. Needham & Company LLC reduced their price target on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Piper Sandler raised Doximity from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Canaccord Genuity Group dropped their target price on Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $61.22.

Doximity Trading Up 0.9%

NASDAQ DOCS traded up $0.46 on Thursday, hitting $51.21. 2,652,525 shares of the company's stock were exchanged, compared to its average volume of 2,095,904. The stock has a 50-day moving average of $56.78 and a 200-day moving average of $57.94. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 51.21, a P/E/G ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings results 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 return on equity of 21.75% and a net margin of 36.60%. Doximity's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. As a group, analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current year.

Insider Activity

In related news, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the sale, the chief financial officer now owns 357,165 shares in the company, valued at $20,440,552.95. The trade was a 11.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the transaction, the director now directly owns 16,618 shares of the company's stock, 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. 37.40% of the stock is currently owned by corporate 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.