Doximity, Inc. (NASDAQ:DOCS) Shares Bought 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 raised its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,673 shares of the company's stock after buying 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 SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in shares of Doximity by 111.7% in the 1st quarter. Pacer Advisors Inc. now owns 629,042 shares of the company's stock valued at $36,503,000 after buying an additional 331,910 shares during the last quarter. Assetmark Inc. boosted its position in shares of Doximity by 105.4% during the 1st quarter. Assetmark Inc. now owns 21,695 shares of the company's stock valued at $1,259,000 after purchasing an additional 11,133 shares in the last quarter. Navellier & Associates Inc. acquired a new position in Doximity during the 1st quarter worth approximately $4,069,000. Cetera Investment Advisers raised its stake in shares of Doximity by 38.7% in the first quarter. Cetera Investment Advisers now owns 11,234 shares of the company's stock worth $652,000 after purchasing an additional 3,137 shares during the last quarter. Finally, Burney Co. raised its stake in shares of Doximity by 8.0% in the first quarter. Burney Co. now owns 36,619 shares of the company's stock worth $2,125,000 after purchasing an additional 2,717 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Insiders Place Their Bets

In related news, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $60.04, for a total value of $300,200.00. Following the completion of the transaction, the director owned 16,618 shares in the company, valued at approximately $997,744.72. This trade represents a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $57.09, for a total value of $114,180.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at $948,721.62. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,000 shares of company stock worth $1,825,940. Corporate insiders own 37.40% of the company's stock.

Doximity Stock Performance

Shares of NASDAQ DOCS traded down $0.66 during trading hours on Wednesday, hitting $57.27. The company's stock had a trading volume of 841,476 shares, compared to its average volume of 2,339,913. Doximity, Inc. has a 12 month low of $25.36 and a 12 month high of $85.21. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 57.27, a P/E/G ratio of 4.10 and a beta of 1.36. The business has a 50-day simple moving average of $58.65 and a 200-day simple moving average of $59.90.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same quarter in the prior year, the firm posted $0.25 EPS. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

DOCS has been the subject of a number of analyst reports. The Goldman Sachs Group set a $50.00 price target on Doximity and gave the stock a "neutral" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price target on Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Raymond James Financial cut their price target on Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Robert W. Baird cut their price target on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Finally, Evercore ISI raised Doximity from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $50.00 to $70.00 in a report on Wednesday, July 9th. Ten analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.26.

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.