Lazard Asset Management LLC Sells 74,267 Shares of Doximity, Inc. (NASDAQ:DOCS)

Lazard Asset Management LLC trimmed its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 37.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,585 shares of the company’s stock after selling 74,267 shares during the quarter. Lazard Asset Management LLC’s holdings in Doximity were worth $6,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Doximity by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company’s stock valued at $598,159,000 after acquiring an additional 485,102 shares in the last quarter. FMR LLC lifted its position in shares of Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company’s stock valued at $502,363,000 after buying an additional 2,571,580 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company’s stock valued at $157,668,000 after buying an additional 95,458 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Doximity by 2.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company’s stock valued at $124,644,000 after purchasing an additional 62,366 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company’s stock valued at $98,649,000 after purchasing an additional 164,200 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Doximity Trading Down 1.6%

Shares of DOCS opened at $58.54 on Friday. The firm has a market cap of $10.93 billion, a PE ratio of 58.54, a P/E/G ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a 12 month low of $23.52 and a 12 month high of $85.21. The stock has a fifty day moving average price of $57.58 and a 200-day moving average price of $57.65.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same period in the previous year, the business posted $0.25 earnings per share. Doximity’s revenue was up 17.1% compared to the same quarter last year. As a group, research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Insiders Place Their Bets

In other Doximity news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now owns 16,618 shares of the company’s stock, valued at $946,062.74. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on DOCS. Needham & Company LLC upped their target price on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Leerink Partnrs upgraded Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Raymond James reiterated an “outperform” rating and issued a $83.00 price objective (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Morgan Stanley lowered their target price on Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Mizuho raised their price objective on Doximity from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Doximity has an average rating of “Moderate Buy” and an average price target of $65.39.

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.