Alps Advisors Inc. Sells 3,321 Shares of Doximity, Inc. (NASDAQ:DOCS)

Alps Advisors Inc. cut its position in Doximity, Inc. (NASDAQ:DOCS) by 36.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,756 shares of the company’s stock after selling 3,321 shares during the period. Alps Advisors Inc.’s holdings in Doximity were worth $334,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in shares of Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company’s stock valued at $502,363,000 after purchasing an additional 2,571,580 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Doximity by 708.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock valued at $80,641,000 after purchasing an additional 1,323,634 shares during the period. SG Americas Securities LLC purchased a new position in Doximity in the first quarter valued at $65,702,000. Invesco Ltd. lifted its holdings in Doximity by 525.1% during the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company’s stock worth $67,934,000 after buying an additional 1,068,849 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Doximity by 1,178.3% during the 4th quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock worth $56,711,000 after buying an additional 979,113 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on DOCS shares. The Goldman Sachs Group set a $50.00 target price on Doximity and gave the stock a “neutral” rating in a research report on Wednesday, May 21st. Truist Financial boosted their price target on Doximity from $52.00 to $61.00 and gave the stock a “hold” rating in a research note on Thursday. Morgan Stanley reduced their target price on Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Canaccord Genuity Group reduced their price target on Doximity from $71.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, May 16th. Finally, Bank of America upped their price objective on Doximity from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.89.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 6,360 shares of the company’s stock, valued at approximately $381,600. The trade was a 61.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer directly owned 357,165 shares of the company’s stock, valued at $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,000 shares of company stock worth $4,400,970. 37.40% of the stock is currently owned by corporate insiders.

Doximity Stock Performance

Shares of DOCS stock opened at $61.60 on Friday. Doximity, Inc. has a 52-week low of $25.00 and a 52-week high of $85.21. The stock has a market cap of $11.57 billion, a PE ratio of 61.60, a PEG ratio of 4.10 and a beta of 1.37. The firm’s 50 day moving average price is $57.45 and its two-hundred day moving average price is $59.31.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.25 EPS. The company’s revenue was up 17.1% on a year-over-year basis. As a group, sell-side analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Doximity Company 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.