Rakuten Securities Inc. Has $390,000 Position in Doximity, Inc. (NASDAQ:DOCS)

Rakuten Securities Inc. reduced its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 63.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,713 shares of the company's stock after selling 11,680 shares during the quarter. Rakuten Securities Inc.'s holdings in Doximity were worth $390,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Doximity by 19.8% during the 4th quarter. Van ECK Associates Corp now owns 2,352 shares of the company's stock worth $126,000 after purchasing an additional 388 shares during the period. New York State Teachers Retirement System lifted its holdings in Doximity by 9.6% in the 4th quarter. New York State Teachers Retirement System now owns 102,067 shares of the company's stock valued at $5,449,000 after purchasing an additional 8,934 shares in the last quarter. Rhumbline Advisers lifted its holdings in Doximity by 0.6% in the 4th quarter. Rhumbline Advisers now owns 333,677 shares of the company's stock valued at $17,815,000 after purchasing an additional 1,828 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in Doximity in the 4th quarter valued at about $514,000. Finally, Principal Financial Group Inc. lifted its holdings in Doximity by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company's stock valued at $15,695,000 after purchasing an additional 4,282 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the transaction, the director now owns 16,618 shares of the company's stock, valued at $946,062.74. The trade was a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 51,000 shares of company stock valued at $2,900,770. 37.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DOCS. Needham & Company LLC cut their price objective on shares of Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Truist Financial cut their price objective on shares of Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a report on Friday, May 16th. William Blair reiterated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. KeyCorp cut their price objective on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group cut their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a report on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.84.

Doximity Stock Performance

DOCS traded down $1.41 during trading on Thursday, reaching $57.10. The company had a trading volume of 1,996,262 shares, compared to its average volume of 2,145,165. The firm's 50-day simple moving average is $55.44 and its 200 day simple moving average is $58.53. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 57.10, a PEG ratio of 4.10 and a beta of 1.32. Doximity, Inc. has a 12-month low of $25.00 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share 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 for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. On average, sell-side analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

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.