Federated Hermes Inc. Decreases Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Federated Hermes Inc. lowered its position in Doximity, Inc. (NASDAQ:DOCS) by 36.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,966 shares of the company’s stock after selling 8,669 shares during the quarter. Federated Hermes Inc.’s holdings in Doximity were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOCS. Creative Financial Designs Inc. ADV boosted its stake in Doximity by 16.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,301 shares of the company’s stock valued at $93,000 after acquiring an additional 473 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Doximity in the 3rd quarter valued at about $109,000. PNC Financial Services Group Inc. grew its position in shares of Doximity by 16.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,500 shares of the company’s stock valued at $138,000 after buying an additional 925 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Doximity by 174.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,929 shares of the company’s stock worth $146,000 after acquiring an additional 4,405 shares during the period. Finally, Pier 88 Investment Partners LLC lifted its holdings in Doximity by 13.0% in the third quarter. Pier 88 Investment Partners LLC now owns 10,760 shares of the company’s stock worth $228,000 after acquiring an additional 1,240 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $24.09 on Friday. Doximity, Inc. has a one year low of $19.71 and a one year high of $36.29. The business’s 50-day moving average price is $26.45 and its two-hundred day moving average price is $26.26. The company has a market capitalization of $4.49 billion, a P/E ratio of 36.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.18.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America increased their target price on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company raised their target price on Doximity from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Truist Financial upped their price objective on shares of Doximity from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, February 9th. SVB Leerink initiated coverage on shares of Doximity in a research note on Monday, February 26th. They set a “market perform” rating and a $32.00 target price on the stock. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Doximity in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.82.

Insider Activity at Doximity

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

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.