Doximity (NYSE:DOCS) Director Sells 2,000 Shares

Key Points

• Doximity director Kira Scherer Wampler sold 2,000 shares at an average price of $24.95, generating $49,900. The Rule 10b5-1 transaction reduced her ownership by 9.16% to 19,839 shares.
• Doximity shares traded at $25.60, with a market capitalization of approximately $4.56 billion. The stock remains well below its 52-week high of $76.51 but above its 50-day and 200-day moving averages.
• The company recently exceeded quarterly earnings expectations, reporting $0.29 in EPS versus the $0.16 consensus and $156.62 million in revenue, up 7.3% year over year. Analysts maintain a consensus “Hold” rating with a $32.43 price target.

Doximity, Inc. (NYSE:DOCS - Get Free Report) Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $24.95, for a total value of $49,900.00. Following the completion of the sale, the director owned 19,839 shares of the company's stock, valued at approximately $494,983.05. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Doximity Price Performance

Shares of DOCS traded up $0.86 during midday trading on Thursday, hitting $25.60. The stock had a trading volume of 2,466,382 shares, compared to its average volume of 4,198,125. The stock's 50 day moving average is $22.48 and its 200 day moving average is $23.07. The firm has a market cap of $4.56 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 19.35 and a beta of 1.29. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $76.51.

Doximity (NYSE:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The firm had revenue of $156.62 million during the quarter. During the same period in the prior year, the firm posted $0.36 earnings per share. Doximity's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DOCS. Northwestern Mutual Wealth Management Co. increased its stake in shares of Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company's stock valued at $35,000 after buying an additional 397 shares during the period. Advisory Services Network LLC bought a new position in Doximity during the 3rd quarter worth about $111,000. Farther Finance Advisors LLC grew its holdings in Doximity by 35.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company's stock worth $68,000 after acquiring an additional 405 shares in the last quarter. Leonteq Securities AG purchased a new position in Doximity during the 4th quarter valued at about $78,000. Finally, Kestra Advisory Services LLC purchased a new position in Doximity during the 4th quarter valued at about $87,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DOCS shares. Weiss Ratings restated a "sell (d+)" rating on shares of Doximity in a report on Wednesday, August 12th. Leerink Partners decreased their target price on Doximity from $31.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, May 14th. The Goldman Sachs Group decreased their target price on Doximity from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, May 14th. Truist Financial upped their price target on shares of Doximity from $19.00 to $24.00 and gave the stock a "hold" rating in a report on Thursday, August 13th. Finally, Wolfe Research upgraded shares of Doximity to an "outperform" rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $32.43.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.

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