Malaga Cove Capital LLC Reduces Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Malaga Cove Capital LLC lessened its holdings in Doximity, Inc. (NASDAQ:DOCS) by 3.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,329 shares of the company’s stock after selling 749 shares during the period. Malaga Cove Capital LLC’s holdings in Doximity were worth $514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOCS. First Horizon Advisors Inc. increased its stake in Doximity by 111.3% in the fourth quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after purchasing an additional 524 shares during the period. GAMMA Investing LLC purchased a new stake in Doximity in the fourth quarter worth about $40,000. Creative Financial Designs Inc. ADV increased its position 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 purchasing an additional 473 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Doximity in the 3rd quarter valued at about $109,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Doximity by 16.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,500 shares of the company’s stock worth $138,000 after purchasing an additional 925 shares during the period. Institutional investors own 87.19% of the company’s stock.

Insider Transactions at Doximity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $276,658.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 39.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price objective for the company in a report on Thursday, April 25th. Morgan Stanley restated an “underweight” rating and set a $25.00 price objective on shares of Doximity in a report on Tuesday, April 23rd. Leerink Partnrs reiterated a “market perform” rating on shares of Doximity in a research note on Monday, February 26th. Truist Financial boosted their price objective on shares of Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a report on Friday, February 9th. Finally, SVB Leerink initiated coverage on Doximity in a report on Monday, February 26th. They issued a “market perform” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.82.

Doximity Trading Down 0.9 %

Doximity stock traded down $0.23 during trading on Friday, hitting $24.09. The company had a trading volume of 716,659 shares, compared to its average volume of 1,438,731. The company’s 50 day simple moving average is $26.45 and its 200-day simple moving average is $26.26. Doximity, Inc. has a 1-year low of $19.71 and a 1-year high of $36.29. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 3.03 and a beta of 1.18.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The firm 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%. As a group, analysts forecast that Doximity, Inc. will post 0.72 earnings per share for the current fiscal 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.