Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 393,352 shares of the company's stock after selling 77,714 shares during the quarter. Retirement Systems of Alabama owned approximately 0.21% of Doximity worth $22,826,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Doximity by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company's stock worth $15,695,000 after buying an additional 4,282 shares in the last quarter. Range Financial Group LLC acquired a new position in Doximity during the first quarter worth about $916,000. Wells Fargo & Company MN raised its position in Doximity by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company's stock worth $19,698,000 after acquiring an additional 11,811 shares during the last quarter. Fundsmith LLP purchased a new stake in shares of Doximity in the fourth quarter valued at about $37,934,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Doximity by 199.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 122,000 shares of the company's stock valued at $6,514,000 after purchasing an additional 81,300 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Price Performance

NASDAQ:DOCS traded up $1.46 during trading hours on Wednesday, reaching $60.10. 1,573,702 shares of the company were exchanged, compared to its average volume of 2,152,731. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 60.10, a PEG ratio of 4.10 and a beta of 1.33. The stock has a 50 day simple moving average of $55.75 and a 200 day simple moving average of $58.63. 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 released its quarterly earnings data 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%. During the same quarter in the prior year, the business posted $0.25 earnings per share. The company's revenue was up 17.1% on a year-over-year basis. On average, analysts predict that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Doximity news, 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 transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer now directly owns 357,165 shares in the company, valued at $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 16,618 shares of the company's stock, valued at $878,926.02. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock worth $2,900,770 over the last three months. 37.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on DOCS shares. JPMorgan Chase & Co. cut their price objective on Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. BTIG Research raised Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Monday, June 2nd. Canaccord Genuity Group cut 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. William Blair reaffirmed an "outperform" rating on shares of Doximity in a research note on Friday, May 16th. Finally, Needham & Company LLC dropped their price objective on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.11.

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.