Retirement Systems of Alabama Sells 77,714 Shares of Doximity, Inc. (NASDAQ:DOCS)

Retirement Systems of Alabama lowered its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 393,352 shares of the company's stock after selling 77,714 shares during the period. Retirement Systems of Alabama owned approximately 0.21% of Doximity worth $22,826,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 16,618 shares in the company, valued at $878,926.02. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 357,165 shares in the company, valued at $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,000 shares of company stock worth $2,900,770. 37.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird decreased their target price on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Monday, June 2nd. Canaccord Genuity Group lowered their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. Needham & Company LLC dropped their target price 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $62.84.

Doximity Stock Performance

Shares of DOCS traded up $0.65 during mid-day trading on Monday, reaching $58.01. The stock had a trading volume of 1,394,331 shares, compared to its average volume of 2,150,517. The business has a fifty day moving average of $55.53 and a 200 day moving average of $58.61. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 58.01, 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 released its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating 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%. During the same quarter in the previous year, the business posted $0.25 EPS. The business's quarterly revenue was up 17.1% compared to the same quarter last year. On average, research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

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.