Retirement Systems of Alabama Sells 63,190 Shares of Doximity, Inc. (NASDAQ:DOCS)

Retirement Systems of Alabama trimmed its position in Doximity, Inc. (NASDAQ:DOCS) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 471,066 shares of the company’s stock after selling 63,190 shares during the quarter. Retirement Systems of Alabama owned 0.25% of Doximity worth $25,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after buying an additional 235 shares in the last quarter. Farther Finance Advisors LLC raised its position in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after purchasing an additional 603 shares in the last quarter. Morse Asset Management Inc bought a new position in Doximity during the third quarter worth about $46,000. GAMMA Investing LLC boosted its holdings in Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after purchasing an additional 412 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Doximity by 441.9% in the 3rd quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $73,000 after purchasing an additional 1,370 shares during the period. 87.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Doximity from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. The Goldman Sachs Group assumed coverage on shares of Doximity in a research note on Friday, November 15th. They issued a “neutral” rating and a $58.00 target price on the stock. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $33.00 to $53.00 in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Stephens began coverage on shares of Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 target price for the company. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Doximity currently has a consensus rating of “Hold” and an average price target of $53.12.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the sale, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 37.40% of the stock is currently owned by company insiders.

Doximity Trading Down 1.0 %

Doximity stock opened at $58.14 on Thursday. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75. The company’s 50-day moving average is $54.98 and its two-hundred day moving average is $45.22. The company has a market cap of $10.85 billion, a PE ratio of 66.82, a PEG ratio of 4.68 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The business had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same period in the previous year, the business posted $0.18 earnings per share. Research analysts forecast that Doximity, Inc. will post 0.88 EPS for the current year.

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.