Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 147,989 shares of the company’s stock after selling 8,728 shares during the quarter. Retirement Systems of Alabama’s holdings in Doximity were worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Doximity by 5.9% during the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock valued at $234,236,000 after purchasing an additional 616,157 shares during the period. Baillie Gifford & Co. lifted its position in Doximity by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company’s stock valued at $141,245,000 after purchasing an additional 57,078 shares during the period. Bank of New York Mellon Corp lifted its position in Doximity by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock valued at $26,095,000 after purchasing an additional 107,776 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Doximity by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,066 shares of the company’s stock valued at $14,834,000 after purchasing an additional 67,363 shares during the period. Finally, AQR Capital Management LLC lifted its position in Doximity by 344.2% during the third quarter. AQR Capital Management LLC now owns 540,126 shares of the company’s stock valued at $11,461,000 after purchasing an additional 418,523 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.97, for a total transaction of $67,425.00. Following the completion of the sale, the director now owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 39.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on DOCS. SVB Leerink began coverage on shares of Doximity in a research report on Monday, February 26th. They set a “market perform” rating and a $32.00 target price for the company. Truist Financial boosted their target price on shares of Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price objective for the company in a research report on Thursday, April 25th. Bank of America upped their price objective on shares of Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $25.00 price objective on shares of Doximity in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.82.

Doximity Stock Up 2.1 %

DOCS stock opened at $24.60 on Tuesday. The stock has a market capitalization of $4.59 billion, a P/E ratio of 37.27, a P/E/G ratio of 3.03 and a beta of 1.18. The firm has a 50-day simple moving average of $26.45 and a 200-day simple moving average of $26.32. Doximity, Inc. has a 52 week low of $19.71 and a 52 week high of $36.29.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $135.28 million during the quarter, compared to analysts’ expectations of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. On average, analysts expect that Doximity, Inc. will post 0.72 earnings per share for the current year.

Doximity 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.