Rice Hall James & Associates LLC Sells 35,852 Shares of Doximity, Inc. $DOCS

Rice Hall James & Associates LLC lowered its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 395,555 shares of the company’s stock after selling 35,852 shares during the period. Doximity comprises 1.6% of Rice Hall James & Associates LLC’s holdings, making the stock its 15th largest holding. Rice Hall James & Associates LLC owned about 0.21% of Doximity worth $28,935,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Hantz Financial Services Inc. lifted its holdings in Doximity by 148.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock worth $28,000 after buying an additional 271 shares during the period. Toth Financial Advisory Corp lifted its stake in shares of Doximity by 150.0% in the third quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 300 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Doximity by 176.0% in the first quarter. Smartleaf Asset Management LLC now owns 781 shares of the company’s stock valued at $46,000 after acquiring an additional 498 shares during the last quarter. Farther Finance Advisors LLC increased its position in Doximity by 196.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,134 shares of the company’s stock valued at $83,000 after purchasing an additional 751 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in Doximity by 29.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,427 shares of the company’s stock valued at $88,000 after purchasing an additional 327 shares during the period. Institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of Doximity stock opened at $43.70 on Friday. The business has a 50-day simple moving average of $52.92 and a 200 day simple moving average of $60.65. Doximity, Inc. has a one year low of $43.25 and a one year high of $85.21. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 43.70, a PEG ratio of 4.10 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Doximity from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. Raymond James Financial upgraded shares of Doximity from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $75.00 to $65.00 in a report on Friday, November 21st. Morgan Stanley raised shares of Doximity from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $62.00 to $65.00 in a research report on Monday, December 15th. KeyCorp lifted their price objective on Doximity from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Bank of America raised Doximity from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $82.00 in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.94.

Insiders Place Their Bets

In other news, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $70.84, for a total transaction of $354,200.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at $1,405,394.76. This trade represents a 20.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the completion of the transaction, the director owned 19,839 shares in the company, valued at $1,318,103.16. This represents a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 31.30% of the stock is currently owned by company insiders.

About Doximity

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.