Trust Point Inc. Cuts Holdings in Doximity, Inc. (NASDAQ:DOCS)

Trust Point Inc. reduced its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 47.0% during the 4th quarter, HoldingsChannel reports. The fund owned 15,258 shares of the company’s stock after selling 13,551 shares during the period. Trust Point Inc.’s holdings in Doximity were worth $815,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. UMB Bank n.a. boosted its position in Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after purchasing an additional 235 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Doximity by 20.6% during the 4th quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock worth $93,000 after buying an additional 296 shares during the period. MetLife Investment Management LLC lifted its position in shares of Doximity by 0.6% during the 3rd quarter. MetLife Investment Management LLC now owns 65,064 shares of the company’s stock valued at $2,835,000 after buying an additional 363 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Doximity by 22.5% in the third quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company’s stock valued at $91,000 after purchasing an additional 384 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after buying an additional 603 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DOCS shares. Stephens initiated coverage on Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Wells Fargo & Company upped their price target on Doximity from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Raymond James reiterated an “outperform” rating and set a $65.00 price objective (up previously from $37.00) on shares of Doximity in a research report on Friday, November 8th. Finally, Truist Financial upped their target price on Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Doximity presently has an average rating of “Hold” and a consensus price target of $53.12.

Doximity Trading Down 0.3 %

Shares of NASDAQ DOCS opened at $58.91 on Wednesday. The stock has a market capitalization of $11.00 billion, a PE ratio of 67.72, a PEG ratio of 4.68 and a beta of 1.39. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $61.75. The stock has a fifty day simple moving average of $54.89 and a 200-day simple moving average of $45.13.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The firm had revenue of $136.83 million during the quarter, compared to analyst estimates of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, equities analysts predict that Doximity, Inc. will post 0.88 earnings per share for the current year.

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.