Teacher Retirement System of Texas Cuts Holdings in Doximity, Inc. (NASDAQ:DOCS)

Teacher Retirement System of Texas reduced its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 48.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,796 shares of the company's stock after selling 55,229 shares during the period. Teacher Retirement System of Texas' holdings in Doximity were worth $3,354,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. New York State Teachers Retirement System lifted its holdings in Doximity by 10.9% in the first quarter. New York State Teachers Retirement System now owns 113,145 shares of the company's stock valued at $6,566,000 after acquiring an additional 11,078 shares during the period. Amalgamated Bank increased its position in shares of Doximity by 0.3% in the first quarter. Amalgamated Bank now owns 60,928 shares of the company's stock valued at $3,536,000 after buying an additional 186 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Doximity during the first quarter worth approximately $1,900,000. Highland Capital Management LLC acquired a new stake in shares of Doximity during the first quarter worth approximately $1,296,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in Doximity in the 1st quarter worth approximately $6,019,000. 87.19% of the stock is currently owned by institutional investors.

Doximity Trading Up 1.2%

DOCS opened at $61.61 on Wednesday. The business's 50 day moving average is $57.00 and its 200-day moving average is $59.12. The stock has a market cap of $11.57 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. 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 announced its quarterly earnings data on Thursday, May 15th. The company reported $0.38 EPS 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 prior year, the firm earned $0.25 EPS. Doximity's revenue was up 17.1% on a year-over-year basis. As a group, analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,000 shares of the firm's 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 sale, the director owned 16,618 shares of the company's stock, valued at approximately $878,926.02. This trade represents a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Regina M. Benjamin sold 10,000 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director directly owned 16,618 shares of the company's stock, valued at approximately $997,080. The trade was a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,000 shares of company stock valued at $4,100,770 over the last ninety days. Company insiders own 37.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DOCS shares. Mizuho lowered their target price on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. Truist Financial lowered their target price on Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, May 16th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Monday, June 2nd. Bank of America boosted their price objective on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Finally, William Blair restated an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.

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