Nisa Investment Advisors LLC Decreases Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Nisa Investment Advisors LLC lowered its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 55.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,070 shares of the company's stock after selling 5,000 shares during the quarter. Nisa Investment Advisors LLC's holdings in Doximity were worth $236,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Spire Wealth Management lifted its holdings in shares of 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 purchasing an additional 260 shares during the last quarter. Optimum Investment Advisors purchased a new position in shares of Doximity in the 4th quarter worth $43,000. Kapitalo Investimentos Ltda purchased a new position in Doximity in the fourth quarter valued at about $50,000. Huntington National Bank grew its stake in shares of Doximity by 1,440.8% during the fourth 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. Finally, UMB Bank n.a. increased its holdings in Doximity by 128.0% in the first quarter. UMB Bank n.a. now owns 1,311 shares of the company's stock valued at $76,000 after buying an additional 736 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Doximity

In other Doximity news, Director Regina M. Benjamin sold 10,000 shares of the company's stock in a transaction 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 16,618 shares in the company, valued at $997,080. This represents a 37.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total value of $2,575,350.00. Following the transaction, the chief financial officer owned 357,165 shares of the company's stock, valued at $20,440,552.95. This trade represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,000 shares of company stock valued at $4,400,970 in the last 90 days. 37.40% of the stock is owned by company insiders.

Doximity Stock Performance

DOCS stock opened at $61.60 on Friday. The firm has a fifty day moving average price of $57.45 and a 200 day moving average price of $59.31. The firm has a market cap of $11.57 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its 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 net margin of 36.60% and a return on equity of 21.75%. Doximity's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, equities analysts predict 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 the company. Robert W. Baird reduced their price objective on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Mizuho reduced their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, May 16th. KeyCorp raised their price objective on shares of Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday. Evercore ISI raised shares of Doximity from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $50.00 to $70.00 in a report on Wednesday, July 9th. Finally, Bank of America lifted their price target on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Ten investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Doximity presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.89.

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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