Stock Traders Purchase Large Volume of Put Options on Doximity (NASDAQ:DOCS)

Doximity, Inc. (NASDAQ:DOCSGet Free Report) was the recipient of some unusual options trading on Monday. Stock traders purchased 11,729 put options on the company. This is an increase of approximately 578% compared to the average volume of 1,731 put options.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $28.27, for a total value of $141,350.00. Following the completion of the sale, the director now owns 10,258 shares in the company, valued at approximately $289,993.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 39.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new stake in Doximity in the first quarter valued at approximately $51,000. First Horizon Advisors Inc. increased its stake in shares of Doximity by 111.3% during 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. Quarry LP bought a new position in shares of Doximity during the first quarter worth approximately $38,000. American International Group Inc. bought a new position in shares of Doximity during the second quarter worth approximately $43,000. Finally, GAMMA Investing LLC bought a new position in shares of Doximity during the fourth quarter worth approximately $40,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Price Performance

DOCS stock opened at $26.99 on Wednesday. The business has a 50-day moving average of $28.60 and a 200-day moving average of $25.54. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $37.10. The stock has a market capitalization of $5.03 billion, a P/E ratio of 40.89, a P/E/G ratio of 3.71 and a beta of 1.18.

Doximity (NASDAQ:DOCSGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. Doximity had a return on equity of 16.08% and a net margin of 29.39%. The firm had revenue of $135.28 million during the quarter, compared to analysts’ expectations of $127.46 million. Equities analysts expect that Doximity will post 0.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOCS. Truist Financial lifted their target price on Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Leerink Partnrs reissued a “market perform” rating on shares of Doximity in a research note on Monday, February 26th. Barclays started coverage on Doximity in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $31.00 price target for the company. SVB Leerink started coverage on Doximity in a report on Monday, February 26th. They issued a “market perform” rating and a $32.00 price target for the company. Finally, Bank of America increased their price target on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Doximity has a consensus rating of “Hold” and a consensus target price of $28.00.

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About Doximity

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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.

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