Doximity (NYSE:DOCS) Director Sells $34,455.90 in Stock

Key Points

• Doximity director Watkin Phoebe Yang sold 1,290 shares at an average price of $26.71, totaling $34,455.90. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving Yang with 24,744 shares.
• Doximity shares traded at $27.95, with a market capitalization of approximately $4.98 billion. The company recently reported quarterly EPS of $0.29, exceeding the $0.16 analyst consensus, while revenue rose 7.3% year over year to $156.62 million.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $31.95. Institutional investors own approximately 87.19% of the company’s stock.

Doximity, Inc. (NYSE:DOCS - Get Free Report) Director Watkin Phoebe Yang sold 1,290 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $26.71, for a total transaction of $34,455.90. Following the completion of the sale, the director directly owned 24,744 shares in the company, valued at $660,912.24. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Doximity Price Performance

DOCS stock traded down $0.55 during midday trading on Friday, reaching $27.95. The company had a trading volume of 2,672,127 shares, compared to its average volume of 4,021,538. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $74.33. The company has a market capitalization of $4.98 billion, a P/E ratio of 32.89, a P/E/G ratio of 22.17 and a beta of 1.22. The firm has a 50-day moving average price of $25.04 and a 200-day moving average price of $23.23.

Doximity (NYSE:DOCS - Get Free Report) last issued 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. The firm had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. Doximity's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. On average, equities analysts predict that Doximity, Inc. will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Lifestyle Asset Management Inc. increased its holdings in Doximity by 5.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company's stock worth $314,000 after buying an additional 396 shares in the last quarter. Leonteq Securities AG boosted its holdings in shares of Doximity by 65.6% during the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company's stock valued at $68,000 after acquiring an additional 1,154 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Doximity by 6.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 19,224 shares of the company's stock valued at $448,000 after acquiring an additional 1,156 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Doximity by 111.0% in the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company's stock worth $60,000 after acquiring an additional 1,347 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Doximity by 1,176.9% in the third quarter. Versant Capital Management Inc now owns 1,826 shares of the company's stock worth $52,000 after acquiring an additional 1,683 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America restated an "underperform" rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a research report on Monday, June 29th. Wolfe Research upgraded Doximity to an "outperform" rating in a research report on Thursday, August 13th. Zacks Research raised Doximity from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Wells Fargo & Company downgraded Doximity from an "equal weight" rating to an "underweight" rating and set a $18.00 target price for the company. in a research report on Monday, August 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $47.00 target price (up from $42.00) on shares of Doximity in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.95.

Doximity Company Profile

Doximity, Inc operates a digital platform designed for U.S. medical professionals. Its network enables physicians, nurse practitioners, physician assistants and other healthcare providers to connect with colleagues, exchange clinical information and access professional resources.

The company offers tools for telehealth and care coordination, including video and phone-based communication services, as well as digital faxing and secure messaging capabilities. Doximity also provides medical news and research content tailored to healthcare professionals.

Doximity generates additional business through recruiting and marketing solutions that help healthcare organizations reach clinicians and promote employment opportunities, services and products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.