Voloridge Investment Management LLC Decreases Position in Doximity, Inc. (NASDAQ:DOCS)

Voloridge Investment Management LLC trimmed its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 49.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,704 shares of the company's stock after selling 154,196 shares during the quarter. Voloridge Investment Management LLC owned 0.09% of Doximity worth $8,527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of Doximity by 60.5% during the third quarter. Barclays PLC now owns 53,401 shares of the company's stock worth $2,327,000 after purchasing an additional 20,125 shares during the period. UMB Bank n.a. raised its position in Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after purchasing an additional 235 shares during the last quarter. Blue Trust Inc. lifted its holdings in Doximity by 88.1% during the 4th quarter. Blue Trust Inc. now owns 5,398 shares of the company's stock worth $288,000 after buying an additional 2,528 shares during the period. KBC Group NV grew its position in shares of Doximity by 2,130.7% in the 4th quarter. KBC Group NV now owns 73,523 shares of the company's stock valued at $3,925,000 after buying an additional 70,227 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Doximity by 167.6% in the 4th quarter. Pacer Advisors Inc. now owns 297,132 shares of the company's stock valued at $15,864,000 after buying an additional 186,093 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction 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 sale, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now directly owns 16,618 shares of the company's stock, valued at $946,062.74. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 37.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DOCS shares. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Truist Financial dropped their price target on shares of Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. Canaccord Genuity Group decreased their price target on Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a report on Friday, May 16th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Doximity in a research report on Friday, February 7th. Finally, Needham & Company LLC dropped their price target on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Doximity currently has an average rating of "Moderate Buy" and a consensus price target of $61.89.

Doximity Stock Down 1.0%

Doximity stock traded down $0.51 during mid-day trading on Wednesday, reaching $51.59. 1,637,916 shares of the company's stock were exchanged, compared to its average volume of 2,095,572. The business's fifty day simple moving average is $55.91 and its 200 day simple moving average is $58.19. Doximity, Inc. has a one year low of $25.00 and a one year high of $85.21. The firm has a market capitalization of $9.63 billion, a PE ratio of 51.59, a P/E/G ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the company earned $0.25 earnings per share. On average, sell-side analysts forecast 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.