New York State Common Retirement Fund Sells 4,500 Shares of Doximity, Inc. (NASDAQ:DOCS)

New York State Common Retirement Fund lessened its position in Doximity, Inc. (NASDAQ:DOCS) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,778 shares of the company’s stock after selling 4,500 shares during the period. New York State Common Retirement Fund owned about 0.07% of Doximity worth $7,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of DOCS. Vanguard Group Inc. lifted its stake in shares of Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company’s stock worth $598,159,000 after buying an additional 485,102 shares during the last quarter. FMR LLC raised its stake in Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company’s stock worth $502,363,000 after purchasing an additional 2,571,580 shares in the last quarter. Geode Capital Management LLC raised its stake in Doximity by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company’s stock worth $157,668,000 after purchasing an additional 95,458 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Doximity by 2.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company’s stock worth $124,644,000 after purchasing an additional 62,366 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Doximity by 9.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company’s stock worth $98,649,000 after purchasing an additional 164,200 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOCS shares. Robert W. Baird dropped their target price on shares of Doximity from $87.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. Raymond James Financial dropped their target price on shares of Doximity from $83.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Needham & Company LLC dropped their target price on shares of Doximity from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Morgan Stanley dropped their target price on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, BTIG Research upgraded shares of Doximity from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Monday, June 2nd. Ten analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.89.

Doximity Stock Down 2.5%

Doximity stock opened at $60.07 on Friday. Doximity, Inc. has a 12-month low of $25.00 and a 12-month high of $85.21. The firm’s fifty day moving average is $57.47 and its 200 day moving average is $59.40. The company has a market capitalization of $11.28 billion, a PE ratio of 60.07, a PEG ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Sell-side analysts expect that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $52.89, for a total value of $105,780.00. Following the completion of the transaction, the director directly owned 16,618 shares in the company, valued at approximately $878,926.02. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $60.04, for a total transaction of $300,200.00. Following the completion of the transaction, the director owned 16,618 shares of the company’s stock, valued at $997,744.72. This trade represents a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,000 shares of company stock worth $4,400,970. 37.40% of the stock is currently owned by corporate insiders.

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.