Swiss National Bank Trims Stake in Doximity, Inc. (NASDAQ:DOCS)

Swiss National Bank lessened its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 4.8% in the first quarter, HoldingsChannel.com reports. The fund owned 211,000 shares of the company’s stock after selling 10,600 shares during the period. Swiss National Bank’s holdings in Doximity were worth $12,244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Doximity by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company’s stock worth $707,646,000 after buying an additional 990,923 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Doximity by 8.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,579,708 shares of the company’s stock worth $84,341,000 after purchasing an additional 124,216 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Doximity by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,576,455 shares of the company’s stock valued at $84,167,000 after buying an additional 63,815 shares in the last quarter. Northern Trust Corp boosted its stake in Doximity by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,459,185 shares of the company’s stock worth $77,906,000 after buying an additional 125,332 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Doximity by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 1,137,912 shares of the company’s stock worth $66,033,000 after acquiring an additional 86,135 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Buying and Selling at Doximity

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 6,360 shares of the company’s stock, valued at approximately $381,600. This represents a 61.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction on Friday, August 8th. The stock was sold at an average price of $63.00, for a total transaction of $315,000.00. Following the transaction, the director owned 16,618 shares in the company, valued at $1,046,934. This represents a 23.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,000 shares of company stock worth $2,140,940 in the last three months. 31.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DOCS shares. Morgan Stanley reduced their target price on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. BTIG Research raised Doximity from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Monday, June 2nd. The Goldman Sachs Group set a $50.00 target price on Doximity and gave the company a “neutral” rating in a report on Wednesday, May 21st. Evercore ISI upgraded Doximity from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $50.00 to $70.00 in a research report on Wednesday, July 9th. Finally, Raymond James Financial increased their price objective on Doximity from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.21.

Doximity Stock Down 0.7%

Shares of Doximity stock opened at $63.54 on Friday. Doximity, Inc. has a twelve month low of $34.34 and a twelve month high of $85.21. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 63.54, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. The company’s 50 day moving average is $59.89 and its 200 day moving average is $60.19.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same quarter in the previous year, the business posted $0.28 EPS. Doximity’s revenue was up 15.2% compared to the same quarter last year. Sell-side analysts expect that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

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.