Timothy Cabral Sells 7,500 Shares of Doximity (NYSE:DOCS) Stock

Key Points

• Doximity director Timothy Cabral sold 7,500 shares for approximately $293,325 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by nearly 70% to 3,221 shares.
• Doximity reported quarterly EPS of $0.29, beating estimates of $0.16, while revenue reached $156.62 million, up 7.3% year over year.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a $31.86 price target; shares recently traded at $26.04 compared with a 52-week range of $17.15 to $76.51.

Doximity, Inc. (NYSE:DOCS - Get Free Report) Director Timothy Cabral sold 7,500 shares of Doximity stock in a transaction on Friday, August 7th. The shares were sold at an average price of $39.11, for a total value of $293,325.00. Following the transaction, the director owned 3,221 shares in the company, valued at approximately $125,973.31. This trade represents a 69.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Doximity Price Performance

Shares of Doximity stock traded up $0.41 during trading on Tuesday, hitting $26.04. The stock had a trading volume of 5,733,388 shares, compared to its average volume of 4,267,294. The firm has a market cap of $4.76 billion, a P/E ratio of 30.63, a PEG ratio of 9.94 and a beta of 1.29. The business has a fifty day moving average of $21.34 and a two-hundred day moving average of $24.14. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51.

Doximity (NYSE:DOCS - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.13. The business had revenue of $156.62 million during the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. As a group, research analysts forecast that Doximity, Inc. will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America reaffirmed an "underperform" rating and issued a $20.00 price objective (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Zacks Research upgraded shares of Doximity from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $41.00 price target on shares of Doximity in a report on Friday. Barclays reiterated an "equal weight" rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. Finally, Wells Fargo & Company lowered Doximity from an "equal weight" rating to an "underweight" rating and set a $18.00 target price on the stock. in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $31.86.

Hedge Funds Weigh In On Doximity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Doximity by 99.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company's stock valued at $35,000 after purchasing an additional 397 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Doximity by 111.0% during the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company's stock valued at $60,000 after buying an additional 1,347 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Doximity by 937.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company's stock valued at $66,000 after buying an additional 2,560 shares in the last quarter. Farther Finance Advisors LLC raised its position in Doximity by 35.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company's stock valued at $68,000 after buying an additional 405 shares during the period. Finally, Leonteq Securities AG raised its position in Doximity by 65.6% during the first quarter. Leonteq Securities AG now owns 2,912 shares of the company's stock valued at $68,000 after buying an additional 1,154 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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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