Rice Hall James & Associates LLC Sells 32,786 Shares of Doximity, Inc. (NASDAQ:DOCS)

Rice Hall James & Associates LLC lessened its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,874 shares of the company's stock after selling 32,786 shares during the period. Doximity accounts for 1.5% of Rice Hall James & Associates LLC's portfolio, making the stock its 19th largest holding. Rice Hall James & Associates LLC owned about 0.23% of Doximity worth $25,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Doximity by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock worth $598,159,000 after purchasing an additional 485,102 shares during the last quarter. FMR LLC raised its position in shares of Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after acquiring an additional 2,571,580 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock valued at $157,668,000 after acquiring an additional 95,458 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of 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 acquiring an additional 62,366 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock valued at $98,649,000 after acquiring an additional 164,200 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Insider Activity at Doximity

In other news, CFO Anna Bryson sold 45,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 357,165 shares in the company, valued at $20,440,552.95. This represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director owned 6,360 shares of the company's stock, valued at approximately $381,600. This represents a 61.12% 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 quarter. 37.40% of the stock is currently owned by company insiders.

Doximity Trading Up 0.3%

Shares of NASDAQ DOCS opened at $60.26 on Monday. The firm has a market cap of $11.32 billion, a PE ratio of 60.26, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21. The company has a fifty day moving average price of $57.19 and a 200 day moving average price of $59.19.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its 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 net margin of 36.60% and a return on equity of 21.75%. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Equities research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. William Blair reiterated an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Evercore ISI upgraded shares of Doximity from an "in-line" rating to an "outperform" rating and upped their target price for the company from $50.00 to $70.00 in a research report on Wednesday, July 9th. Truist Financial dropped their target price on shares of Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, May 16th. The Goldman Sachs Group set a $50.00 target price on shares of Doximity and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley dropped their target price on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Doximity currently has a consensus rating of "Moderate Buy" and an average target price of $64.42.

About Doximity

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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