Voloridge Investment Management LLC Sells 154,196 Shares of Doximity, Inc. (NASDAQ:DOCS)

Voloridge Investment Management LLC lessened its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 49.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 159,704 shares of the company's stock after selling 154,196 shares during the period. Voloridge Investment Management LLC owned 0.09% of Doximity worth $8,527,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after acquiring an additional 2,571,580 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Doximity by 708.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock valued at $80,641,000 after acquiring an additional 1,323,634 shares during the last quarter. Invesco Ltd. grew its position in Doximity by 525.1% during the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after acquiring an additional 1,068,849 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Doximity by 1,178.3% in the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock worth $56,711,000 after purchasing an additional 979,113 shares during the last quarter. Finally, Fundsmith LLP bought a new position in shares of Doximity in the fourth quarter worth approximately $37,934,000. Institutional investors and hedge funds own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of research reports. Leerink Partnrs upgraded shares of Doximity from a "hold" rating to a "strong-buy" rating in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday. Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and raised their price target for the company from $31.00 to $78.00 in a research note on Friday, February 7th. William Blair restated an "outperform" rating on shares of Doximity in a research note on Friday, May 16th. Finally, Morgan Stanley decreased their price target on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.89.

Insider Transactions at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $56.93, for a total transaction of $113,860.00. Following the sale, the director now owns 16,618 shares of the company's stock, valued at $946,062.74. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anna Bryson sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by company insiders.

Doximity Price Performance

DOCS traded down $0.35 during trading on Friday, hitting $51.59. 279,363 shares of the stock traded hands, compared to its average volume of 2,091,829. Doximity, Inc. has a twelve month low of $25.00 and a twelve month high of $85.21. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 51.76, a PEG ratio of 4.10 and a beta of 1.41. The business has a 50 day moving average price of $55.39 and a 200 day moving average price of $58.08.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results 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%. The firm's revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. On average, equities research analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current year.

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.