Federated Hermes Inc. Sells 8,669 Shares of Doximity, Inc. (NASDAQ:DOCS)

Federated Hermes Inc. lowered its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 36.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,966 shares of the company’s stock after selling 8,669 shares during the period. Federated Hermes Inc.’s holdings in Doximity were worth $420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DOCS. Vanguard Group Inc. grew its holdings in Doximity by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after acquiring an additional 616,157 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Doximity by 0.9% in the third quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company’s stock worth $141,245,000 after purchasing an additional 57,078 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Doximity by 9.6% in the third quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock valued at $26,095,000 after purchasing an additional 107,776 shares during the period. Charles Schwab Investment Management Inc. raised its position in Doximity by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,066 shares of the company’s stock worth $14,834,000 after purchasing an additional 67,363 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Doximity by 344.2% during the 3rd quarter. AQR Capital Management LLC now owns 540,126 shares of the company’s stock worth $11,461,000 after buying an additional 418,523 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

DOCS stock opened at $24.09 on Friday. Doximity, Inc. has a 1 year low of $19.71 and a 1 year high of $36.29. The stock has a market capitalization of $4.49 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.18. The company’s 50-day moving average is $26.45 and its 200-day moving average is $26.26.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. The business had revenue of $135.28 million for the quarter, compared to analyst estimates of $127.46 million. Doximity had a return on equity of 16.08% and a net margin of 29.39%. On average, analysts anticipate that Doximity, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.97, for a total transaction of $67,425.00. Following the transaction, the director now owns 10,258 shares in the company, valued at $276,658.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 39.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DOCS has been the subject of several recent research reports. SVB Leerink began coverage on Doximity in a research note on Monday, February 26th. They issued a “market perform” rating and a $32.00 price target for the company. Leerink Partnrs restated a “market perform” rating on shares of Doximity in a research report on Monday, February 26th. Evercore ISI reiterated an “in-line” rating and set a $30.00 price objective on shares of Doximity in a research report on Tuesday, April 2nd. Morgan Stanley restated an “underweight” rating and issued a $25.00 target price on shares of Doximity in a report on Tuesday, April 23rd. Finally, Wells Fargo & Company upped their price target on shares of Doximity from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.82.

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.