Insider Selling: Doximity, Inc. (NASDAQ:DOCS) Director Sells 5,000 Shares of Stock

Key Points

• Doximity, Inc. Director Regina M. Benjamin sold 5,000 shares of stock at an average price of $63.00, totaling $315,000, which reflects a 23.13% decrease in her ownership position.
• Despite the insider selling, Doximity reported a 15.2% year-over-year revenue increase and beat earnings expectations with $0.36 per share, surpassing the consensus estimate of $0.31.
• Analysts have mixed views on Doximity, with target price revisions leading to ratings ranging from "hold" to "outperform," indicating a general confidence in the company's potential.

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $63.00, for a total value of $315,000.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $1,046,934. This represents a 23.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Doximity Price Performance

Shares of NASDAQ DOCS traded down $4.77 during mid-day trading on Monday, hitting $61.82. The company had a trading volume of 2,834,981 shares, compared to its average volume of 2,365,551. The business's 50-day simple moving average is $59.21 and its 200-day simple moving average is $60.06. Doximity, Inc. has a 12 month low of $34.34 and a 12 month high of $85.21. The firm has a market cap of $11.61 billion, a P/E ratio of 61.82, a PEG ratio of 4.10 and a beta of 1.36.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period last year, the company earned $0.28 earnings per share. The company's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Doximity, Inc. will post 0.99 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on DOCS shares. Truist Financial increased their price objective on Doximity from $52.00 to $61.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Morgan Stanley dropped their price objective on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. William Blair restated an "outperform" rating on shares of Doximity in a research note on Friday, May 16th. Wells Fargo & Company raised their target price on Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Finally, Raymond James Financial raised their target price on Doximity from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Doximity has an average rating of "Moderate Buy" and an average target price of $66.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Doximity during the first quarter worth $65,702,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Doximity by 130.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company's stock valued at $114,133,000 after acquiring an additional 1,113,076 shares during the last quarter. Invesco Ltd. boosted its stake in Doximity by 525.1% in the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after acquiring an additional 1,068,849 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Doximity by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after purchasing an additional 990,923 shares during the period. Finally, Fundsmith LLP bought a new stake in Doximity during the 4th quarter worth approximately $37,934,000. Institutional investors and hedge funds own 87.19% of the company's stock.

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.

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