Doximity, Inc. (NASDAQ:DOCS) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Doximity by 15.5% after acquiring an additional 4,794 shares, bringing its total ownership to 35,673 shares worth approximately $2.07 million.
• Directors of Doximity have recently sold significant portions of their shares, with Regina M. Benjamin selling 5,000 shares and Timothy S. Cabral selling 10,000 shares, leading to decreased ownership positions of 23.13% and 61.12%, respectively.
• Analysts have varied opinions on Doximity's stock, with a recent report lowering price targets while others have upgraded their ratings, resulting in a consensus rating of "Moderate Buy" and an average price target of $64.89.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,673 shares of the company's stock after purchasing an additional 4,794 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Doximity were worth $2,070,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. VSM Wealth Advisory LLC purchased a new position in Doximity during the first quarter worth about $29,000. Allworth Financial LP boosted its stake in shares of Doximity by 104.0% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after purchasing an additional 287 shares in the last quarter. Spire Wealth Management boosted its position in Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after buying an additional 260 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Doximity in the 4th quarter worth about $50,000. Finally, Huntington National Bank lifted its position in shares of Doximity by 1,440.8% in the 4th quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after purchasing an additional 1,023 shares during the period. Institutional investors own 87.19% of the company's stock.

Doximity Trading Down 2.5%

DOCS traded down $1.45 on Friday, hitting $57.30. 1,489,193 shares of the company's stock were exchanged, compared to its average volume of 2,352,441. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The firm has a 50-day moving average price of $58.39 and a 200-day moving average price of $59.88. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 57.30, a P/E/G ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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%. During the same quarter in the previous year, the firm posted $0.25 EPS. The business's quarterly revenue was up 17.1% on a year-over-year basis. On average, equities analysts predict that Doximity, Inc. will post 0.99 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on DOCS shares. Needham & Company LLC reduced their price objective on shares of Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Morgan Stanley lowered their target price on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. KeyCorp increased their target price on shares of Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Mizuho cut their price target on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. Finally, Bank of America increased their target price on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Doximity has a consensus rating of "Moderate Buy" and a consensus target price of $64.89.

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $948,721.62. The trade was a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Regina M. Benjamin sold 5,000 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $60.04, for a total transaction of $300,200.00. Following the transaction, the director directly owned 16,618 shares in the company, valued at approximately $997,744.72. The trade was a 23.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $1,825,940 in the last 90 days. 37.40% of the stock is owned by insiders.

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.