MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Stock Position in Doximity, Inc. (NASDAQ:DOCS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 48.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,768 shares of the company's stock after selling 36,675 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Doximity were worth $2,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Iron Triangle Partners LP purchased a new position in Doximity during the fourth quarter valued at $16,688,000. Graham Capital Management L.P. purchased a new position in Doximity during the fourth quarter valued at $1,797,000. Fundsmith LLP purchased a new position in Doximity during the fourth quarter valued at $37,934,000. D. E. Shaw & Co. Inc. lifted its position in Doximity by 180.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 972,157 shares of the company's stock valued at $51,903,000 after buying an additional 625,467 shares during the period. Finally, Cresset Asset Management LLC lifted its position in Doximity by 24.0% during the fourth quarter. Cresset Asset Management LLC now owns 64,732 shares of the company's stock valued at $3,456,000 after buying an additional 12,538 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Stock Down 4.2%

Doximity stock opened at $50.78 on Thursday. The business has a 50-day simple moving average of $56.78 and a two-hundred day simple moving average of $57.94. The company has a market cap of $9.48 billion, a P/E ratio of 50.78, a P/E/G ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a 52-week low of $25.00 and a 52-week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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%. The company's quarterly revenue was up 17.1% on a year-over-year basis. 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 EPS for the current fiscal year.

Insider Activity at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $946,062.74. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DOCS. Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and raised their price target for the company from $31.00 to $78.00 in a report on Friday, February 7th. William Blair restated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Canaccord Genuity Group reduced their price target on Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a report on Friday, May 16th. Leerink Partnrs upgraded Doximity from a "hold" rating to a "strong-buy" rating in a report on Friday, February 7th. Finally, Mizuho reduced their price target on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.22.

Doximity Company 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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