Renaissance Capital LLC Sells 2,328 Shares of Doximity, Inc. (NASDAQ:DOCS)

Renaissance Capital LLC reduced its stake in Doximity, Inc. (NASDAQ:DOCS) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,179 shares of the company’s stock after selling 2,328 shares during the quarter. Doximity makes up approximately 1.0% of Renaissance Capital LLC’s investment portfolio, making the stock its 28th biggest position. Renaissance Capital LLC’s holdings in Doximity were worth $1,996,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Swiss National Bank grew its position in Doximity by 3.4% in the third quarter. Swiss National Bank now owns 240,500 shares of the company’s stock worth $5,103,000 after acquiring an additional 7,900 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Doximity by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,066 shares of the company’s stock worth $14,834,000 after purchasing an additional 67,363 shares during the last quarter. HighTower Advisors LLC grew its holdings in Doximity by 123.6% in the third quarter. HighTower Advisors LLC now owns 66,000 shares of the company’s stock worth $1,400,000 after purchasing an additional 36,485 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Doximity by 32.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 103,840 shares of the company’s stock worth $2,203,000 after purchasing an additional 25,724 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Doximity by 82.8% during the third quarter. UBS Group AG now owns 107,228 shares of the company’s stock valued at $2,275,000 after buying an additional 48,568 shares during the last quarter. 87.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on DOCS shares. SVB Leerink initiated coverage on shares of Doximity in a research report on Monday, February 26th. They issued a “market perform” rating and a $32.00 price objective for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $25.00 price objective on shares of Doximity in a research report on Tuesday, April 23rd. William Blair reaffirmed an “outperform” rating on shares of Doximity in a research report on Friday, May 17th. Evercore ISI increased their price objective on Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price target for the company in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.73.

Doximity Price Performance

Doximity stock traded down $0.64 during midday trading on Thursday, reaching $26.92. The stock had a trading volume of 420,021 shares, compared to its average volume of 1,732,658. The firm’s fifty day simple moving average is $26.33 and its two-hundred day simple moving average is $27.29. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 5.15 and a beta of 1.23. Doximity, Inc. has a twelve month low of $19.71 and a twelve month high of $36.29.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, May 16th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. Doximity had a net margin of 31.04% and a return on equity of 17.44%. The firm had revenue of $118.06 million for the quarter, compared to the consensus estimate of $116.46 million. As a group, sell-side analysts predict that Doximity, Inc. will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 10,258 shares of the company’s stock, valued at $307,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 10,258 shares in the company, valued at $307,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer now owns 288,685 shares of the company’s stock, valued at approximately $8,660,550. The disclosure for this sale can be found here. Insiders sold a total of 46,500 shares of company stock valued at $1,371,250 over the last ninety days. Insiders own 39.40% of the company’s stock.

About Doximity

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.