Key Points
- Siddharth Sitaram sold 2,319 shares of Doximity on March 10 at an average price of $25.37 for about $58,833, trimming his stake by 2.68% to 84,132 shares (valued ~$2.13M).
- He also sold 2,282 shares on February 10 at an average price of $27.88 for roughly $63,622, indicating multiple recent insider dispositions.
- Doximity beat EPS expectations
Doximity, Inc. (NYSE:DOCS - Get Free Report) insider Siddharth Sitaram sold 2,319 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.37, for a total value of $58,833.03. Following the sale, the insider directly owned 84,132 shares in the company, valued at $2,134,428.84. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Siddharth Sitaram also recently made the following trade(s):
- On Tuesday, February 10th, Siddharth Sitaram sold 2,282 shares of Doximity stock. The shares were sold at an average price of $27.88, for a total value of $63,622.16.
Doximity Trading Up 0.1%
DOCS traded up $0.03 during trading hours on Friday, hitting $24.31. The company's stock had a trading volume of 1,252,021 shares, compared to its average volume of 3,703,383. The firm has a market cap of $4.49 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.38 and a beta of 1.44. The firm has a 50-day moving average of $33.02. Doximity, Inc. has a 12 month low of $23.53 and a 12 month high of $76.51.
Doximity (NYSE:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. During the same quarter last year, the company earned $0.45 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year.
Doximity announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of DOCS. Root Financial Partners LLC bought a new position in shares of Doximity during the third quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Doximity by 59.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company's stock worth $35,000 after acquiring an additional 179 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company's stock worth $35,000 after acquiring an additional 397 shares during the last quarter. Toth Financial Advisory Corp boosted its holdings in Doximity by 150.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 500 shares of the company's stock valued at $37,000 after acquiring an additional 300 shares during the period. Finally, Atlantic Union Bankshares Corp grew its position in Doximity by 136.9% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company's stock valued at $45,000 after acquiring an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Mizuho reduced their price objective on Doximity from $45.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 10th. Canaccord Genuity Group set a $34.00 target price on Doximity and gave the stock a "buy" rating in a report on Monday, February 9th. Needham & Company LLC cut their target price on Doximity from $75.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Morgan Stanley decreased their price target on Doximity from $65.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, February 6th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $44.00 price objective on shares of Doximity in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.50.
Read Our Latest Stock Report on Doximity
Doximity Company Profile
(
Get Free Report)
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.
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