Insider Selling: Doximity (NYSE:DOCS) Director Sells 2,000 Shares of Company Stock

Key Points

• Doximity director Kira Wampler sold 2,000 shares for approximately $57,820 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 6.68% to 27,923 shares.
• Doximity shares rose 2.7% to $28.69, while the company reported quarterly EPS of $0.29—beating estimates—and revenue of $156.62 million, up 7.3% year over year.
• Analysts maintain a consensus “Hold” rating with a $31.95 price target; institutional investors own 87.19% of the stock.

Doximity, Inc. (NYSE:DOCS - Get Free Report) Director Kira Wampler sold 2,000 shares of Doximity stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $28.91, for a total value of $57,820.00. Following the completion of the sale, the director owned 27,923 shares of the company's stock, valued at $807,253.93. The trade was a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kira Scherer Wampler also recently made the following trade(s):

• On Tuesday, August 25th, Kira Wampler sold 2,000 shares of Doximity stock. The shares were sold at an average price of $24.95, for a total transaction of $49,900.00.

Doximity Trading Up 2.7%

DOCS stock traded up $0.76 on Monday, hitting $28.69. The company had a trading volume of 3,163,822 shares, compared to its average volume of 4,016,835. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $73.92. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 21.85 and a beta of 1.22. The stock's 50-day simple moving average is $25.19 and its 200 day simple moving average is $23.25.

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

Institutional Investors Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings 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 purchasing an additional 1,683 shares during the last quarter. Tidal Investments LLC raised its holdings in Doximity by 207.9% in the second quarter. Tidal Investments LLC now owns 43,761 shares of the company's stock worth $908,000 after purchasing an additional 29,546 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Doximity by 15.9% during the second quarter. Engineers Gate Manager LP now owns 285,198 shares of the company's stock valued at $5,915,000 after buying an additional 39,223 shares during the last quarter. RFG Advisory LLC bought a new stake in shares of Doximity in the 2nd quarter valued at about $1,161,000. Finally, Nykredit A S bought a new stake in shares of Doximity in the 2nd quarter valued at about $96,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCS. Zacks Research upgraded Doximity from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Canaccord Genuity Group set a $36.00 target price on shares of Doximity in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Doximity from $26.00 to $31.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Doximity from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, September 14th. Finally, Stifel Nicolaus set a $27.00 price objective on shares of Doximity in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus 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.

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