Riverbridge Partners LLC Trims Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Riverbridge Partners LLC lessened its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,081,313 shares of the company's stock after selling 104,414 shares during the quarter. Riverbridge Partners LLC owned about 0.58% of Doximity worth $62,749,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its holdings in Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares during the last quarter. Larson Financial Group LLC increased its holdings in Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after purchasing an additional 250 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Doximity in the 4th quarter valued at approximately $43,000. Kapitalo Investimentos Ltda acquired a new stake in Doximity in the 4th quarter valued at approximately $50,000. Finally, Huntington National Bank increased its holdings in Doximity by 1,440.8% in the 4th quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $58,000 after purchasing an additional 1,023 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $52.89, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 51,000 shares of company stock worth $2,900,770. Corporate insiders own 37.40% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DOCS. JPMorgan Chase & Co. dropped their target price on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. 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 report on Friday, May 16th. Raymond James Financial dropped their price target on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. William Blair restated an "outperform" rating on shares of Doximity in a research note on Friday, May 16th. Finally, Mizuho dropped their price target 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. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.84.

Doximity Trading Up 1.1%

Shares of DOCS stock traded up $0.65 on Monday, reaching $58.01. 1,394,331 shares of the stock were exchanged, compared to its average volume of 2,150,517. The business's 50 day moving average price is $55.64 and its 200 day moving average price is $58.63. The company has a market capitalization 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 twelve month low of $25.00 and a twelve month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last issued 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%. The company's revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities research analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current 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.