Doximity, Inc. (NASDAQ:DOCS)’s share price dropped 5.1% on Thursday . The stock traded as low as $73.76 and last traded at $73.88. Approximately 22,583 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 2,395,930 shares. The stock had previously closed at $77.85.
A number of brokerages recently issued reports on DOCS. Morgan Stanley increased their price objective on Doximity from $52.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 31st. Zacks Investment Research downgraded Doximity from a “buy” rating to a “hold” rating in a research report on Tuesday. William Blair started coverage on Doximity in a report on Monday, July 19th. They set an “outperform” rating for the company. Piper Sandler assumed coverage on shares of Doximity in a research note on Monday, July 19th. They issued an “overweight” rating and a $68.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered shares of Doximity from an “overweight” rating to a “neutral” rating and set a $70.00 target price for the company. in a research report on Thursday, August 26th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $70.75.
The stock has a 50-day moving average of $83.15.
In other Doximity news, CFO Anna Bryson sold 23,359 shares of the business’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $75.00, for a total value of $1,751,925.00. Following the completion of the sale, the chief financial officer now owns 75,247 shares in the company, valued at $5,643,525. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph B. Kleine sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $75.77, for a total transaction of $15,154,000.00. The disclosure for this sale can be found here.
Institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new stake in Doximity in the second quarter worth $28,000. Legal & General Group Plc bought a new position in Doximity in the 2nd quarter worth $59,000. Daiwa Securities Group Inc. purchased a new stake in shares of Doximity in the 2nd quarter worth about $64,000. Royal Bank of Canada bought a new stake in shares of Doximity during the 2nd quarter valued at about $87,000. Finally, Citigroup Inc. bought a new position in Doximity in the second quarter worth about $223,000. Institutional investors own 13.04% of the company’s stock.
About Doximity (NASDAQ:DOCS)
Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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.
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