Lazard Asset Management LLC Reduces Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Lazard Asset Management LLC trimmed its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 37.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,585 shares of the company's stock after selling 74,267 shares during the period. Lazard Asset Management LLC owned approximately 0.07% of Doximity worth $6,543,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Doximity by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock worth $598,159,000 after purchasing an additional 485,102 shares during the last quarter. FMR LLC lifted its holdings in shares of Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after buying an additional 2,571,580 shares during the period. Geode Capital Management LLC boosted its stake in shares of Doximity by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock worth $157,668,000 after buying an additional 95,458 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Doximity by 2.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock worth $124,644,000 after buying an additional 62,366 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Doximity by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after acquiring an additional 164,200 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Stock Down 1.4%

NASDAQ DOCS traded down $0.74 during trading hours on Wednesday, reaching $52.26. The company's stock had a trading volume of 945,906 shares, compared to its average volume of 2,083,460. Doximity, Inc. has a 1 year low of $25.00 and a 1 year high of $85.21. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 52.25, a PEG ratio of 4.10 and a beta of 1.41. The firm's 50-day moving average price is $57.04 and its 200-day moving average price is $57.99.

Doximity (NASDAQ:DOCS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period in the prior year, the firm earned $0.25 EPS. Doximity's revenue was up 17.1% compared to the same quarter last year. Equities research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial lowered their target price on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a report on Friday, May 16th. Raymond James lowered their price objective on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. William Blair restated an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. The Goldman Sachs Group reduced their target price on shares of Doximity from $80.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Robert W. Baird decreased their price target on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Doximity presently has an average rating of "Moderate Buy" and a consensus price target of $61.22.

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 45,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer now owns 357,165 shares in the company, valued at $20,440,552.95. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director now owns 16,618 shares in the company, valued at $946,062.74. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 37.40% of the company's stock.

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.