Clearbridge Investments LLC Sells 61,931 Shares of Doximity, Inc. $DOCS

Clearbridge Investments LLC lowered its position in Doximity, Inc. (NYSE:DOCS) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,066,841 shares of the company’s stock after selling 61,931 shares during the quarter. Clearbridge Investments LLC’s holdings in Doximity were worth $224,360,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Doximity by 0.5% in the 1st 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 during the period. BOKF NA raised its holdings in shares of Doximity by 5.3% in the 3rd quarter. BOKF NA now owns 5,356 shares of the company’s stock worth $392,000 after buying an additional 269 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Doximity by 1.1% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock worth $1,361,000 after buying an additional 333 shares during the period. Atlantic Union Bankshares Corp lifted its position in shares of Doximity by 136.9% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock worth $45,000 after buying an additional 356 shares during the period. Finally, Wealth Alliance LLC lifted its position in shares of Doximity by 8.0% during the 3rd quarter. Wealth Alliance LLC now owns 5,124 shares of the company’s stock worth $375,000 after buying an additional 378 shares during the period. Institutional investors own 87.19% of the company’s stock.

Insiders Place Their Bets

In related news, insider Siddharth Sitaram sold 2,309 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.77, for a total transaction of $59,502.93. Following the completion of the sale, the insider directly owned 89,396 shares of the company’s stock, valued at $2,303,734.92. This trade represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kira Scherer Wampler sold 9,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at $517,004.34. This represents a 31.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,055 shares of company stock valued at $404,061 over the last ninety days. Insiders own 31.30% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCS has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on Doximity from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Wells Fargo & Company restated an “equal weight” rating and set a $18.00 target price (down from $32.00) on shares of Doximity in a research report on Thursday, May 14th. Royal Bank Of Canada restated an “outperform” rating and set a $44.00 target price on shares of Doximity in a research report on Monday, March 9th. Morgan Stanley cut their target price on Doximity from $49.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Finally, Robert W. Baird restated a “neutral” rating and set a $18.00 target price (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.62.

Doximity Price Performance

DOCS stock opened at $20.56 on Monday. The company’s fifty day simple moving average is $22.64. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The firm has a market cap of $3.76 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.50 and a beta of 1.30.

Doximity Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.