Doximity (NYSE:DOCS) CAO Siddharth Sitaram Sells 1,770 Shares of Stock

Doximity, Inc. (NYSE:DOCS) CAO Siddharth Sitaram sold 1,770 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $24.94, for a total transaction of $44,143.80. Following the sale, the chief accounting officer directly owned 97,004 shares of the company’s stock, valued at approximately $2,419,279.76. The trade was a 1.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Siddharth Sitaram also recently made the following trade(s):

• On Monday, June 8th, Siddharth Sitaram sold 2,444 shares of Doximity stock. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04.

Doximity Trading Down 0.8%

NYSE DOCS traded down $0.20 during trading hours on Monday, reaching $24.60. 3,449,905 shares of the company’s stock were exchanged, compared to its average volume of 4,271,887. The firm has a fifty day moving average of $21.80 and a 200-day moving average of $23.62. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The stock has a market cap of $4.38 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 17.10 and a beta of 1.29.

Doximity (NYSE:DOCS) last announced its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The company had revenue of $156.62 million for the quarter. During the same quarter in the previous year, the company posted $0.36 EPS. Doximity’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts forecast that Doximity, Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DOCS shares. Evercore set a $40.00 target price on shares of Doximity in a research report on Friday, August 7th. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective (up from $42.00) on shares of Doximity in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Doximity in a report on Wednesday. Mizuho lowered their target price on Doximity from $34.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Finally, Barclays restated an “equal weight” rating and set a $20.00 target price (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Doximity currently has an average rating of “Hold” and a consensus target price of $32.10.

Institutional Trading of Doximity

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Doximity by 24.2% during the 1st quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after acquiring an additional 20,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Doximity by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after buying an additional 210 shares during the period. NewEdge Advisors LLC boosted its holdings in Doximity by 613.7% during the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after buying an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Doximity by 33.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after buying an additional 63,873 shares during the period. Finally, Focus Partners Wealth acquired a new position in shares of Doximity during the 1st quarter worth about $283,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.