Swedbank AB Sells 1,492,526 Shares of Doximity, Inc. (NASDAQ:DOCS)

Swedbank AB lowered its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 89.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,882 shares of the company's stock after selling 1,492,526 shares during the quarter. Swedbank AB owned 0.09% of Doximity worth $7,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in shares of Doximity in the first quarter valued at approximately $27,000. Blue Trust Inc. increased its position in Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company's stock valued at $37,000 after purchasing an additional 1,193 shares during the period. Quarry LP increased its position in Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company's stock valued at $45,000 after purchasing an additional 131,253 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Doximity during the 1st quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. increased its position in Doximity by 80.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company's stock valued at $48,000 after purchasing an additional 760 shares during the period. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Price Performance

Shares of Doximity stock traded up $0.63 during trading hours on Friday, hitting $43.49. 914,592 shares of the company's stock traded hands, compared to its average volume of 1,696,667. Doximity, Inc. has a 12-month low of $19.89 and a 12-month high of $44.88. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 60.25, a PEG ratio of 5.29 and a beta of 1.29. The company has a fifty day simple moving average of $39.32 and a 200-day simple moving average of $31.11.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The firm had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. On average, analysts forecast that Doximity, Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Doximity from $27.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, August 19th. Evercore ISI increased their price target on Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a report on Tuesday, October 8th. Needham & Company LLC upgraded Doximity from a "hold" rating to a "buy" rating and set a $38.00 price target on the stock in a report on Friday, August 9th. Wells Fargo & Company cut Doximity from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Finally, Truist Financial reiterated a "hold" rating and issued a $35.00 target price (up from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $35.83.

Insider Buying and Selling

In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of Doximity stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the sale, the director now owns 11,258 shares of the company's stock, valued at approximately $287,529.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Doximity news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 309,627 shares of the company's stock, valued at $10,836,945. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of Doximity stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now directly owns 11,258 shares of the company's stock, valued at $287,529.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,451 shares of company stock valued at $1,201,018. 39.40% of the stock is owned by 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.