Federated Hermes Inc. Sells 89,985 Shares of Doximity, Inc. $DOCS

Federated Hermes Inc. cut its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 32.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 186,986 shares of the company’s stock after selling 89,985 shares during the period. Federated Hermes Inc.’s holdings in Doximity were worth $11,470,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Doximity by 5.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,981 shares of the company’s stock worth $183,000 after buying an additional 165 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Doximity by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the company’s stock valued at $2,306,000 after acquiring an additional 200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after acquiring an additional 210 shares in the last quarter. ProShare Advisors LLC raised its stake in Doximity by 4.1% during the second quarter. ProShare Advisors LLC now owns 5,920 shares of the company’s stock worth $363,000 after acquiring an additional 232 shares in the last quarter. Finally, Main Management ETF Advisors LLC lifted its holdings in shares of Doximity by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 14,660 shares of the company’s stock worth $899,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DOCS. KeyCorp upped their price objective on shares of Doximity from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Evercore ISI decreased their target price on shares of Doximity from $81.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $62.00 price target on shares of Doximity in a research note on Friday, October 10th. Canaccord Genuity Group cut their price objective on Doximity from $67.00 to $58.00 and set a “hold” rating on the stock in a report on Monday, November 10th. Finally, Bank of America raised shares of Doximity from a “neutral” rating to a “buy” rating and upped their target price for the stock from $75.00 to $82.00 in a report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the director owned 3,221 shares of the company’s stock, valued at $241,575. This represents a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the sale, the director owned 19,839 shares in the company, valued at $1,318,103.16. The trade was a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,000 shares of company stock worth $2,339,580. Corporate insiders own 31.30% of the company’s stock.

Doximity Price Performance

Shares of DOCS opened at $45.10 on Thursday. Doximity, Inc. has a 1-year low of $44.71 and a 1-year high of $85.21. The company has a market capitalization of $8.49 billion, a P/E ratio of 45.10, a P/E/G ratio of 4.10 and a beta of 1.38. The firm’s 50 day simple moving average is $59.14 and its 200 day simple moving average is $61.52.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

Doximity 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.