Retirement Systems of Alabama Trims Stake in Doximity, Inc. (NASDAQ:DOCS)

Retirement Systems of Alabama decreased its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 5.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 147,989 shares of the company’s stock after selling 8,728 shares during the period. Retirement Systems of Alabama owned about 0.08% of Doximity worth $4,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Doximity by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after purchasing an additional 616,157 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Doximity by 344.2% in the 3rd quarter. AQR Capital Management LLC now owns 540,126 shares of the company’s stock worth $11,461,000 after purchasing an additional 418,523 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Doximity in the 4th quarter worth approximately $6,518,000. Qube Research & Technologies Ltd bought a new stake in shares of Doximity in the 3rd quarter worth approximately $4,112,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Doximity by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock worth $26,095,000 after purchasing an additional 107,776 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Transactions at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.97, for a total value 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 document filed with the Securities & Exchange Commission, which is available at this link. 39.40% of the stock is currently owned by company insiders.

Doximity Price Performance

NASDAQ:DOCS opened at $24.60 on Tuesday. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 3.03 and a beta of 1.18. Doximity, Inc. has a one year low of $19.71 and a one year high of $36.29. The business has a fifty day moving average price of $26.45 and a 200-day moving average price of $26.32.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. The firm had revenue of $135.28 million during the quarter, compared to analyst estimates of $127.46 million. Doximity had a return on equity of 16.08% and a net margin of 29.39%. On average, equities research analysts expect that Doximity, Inc. will post 0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DOCS has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on Doximity from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Bank of America upped their price objective on Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. Truist Financial upped their price objective on Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Doximity in a research report on Monday, February 26th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of Doximity in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.82.

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.