Siddharth Sitaram Sells 2,444 Shares of Doximity (NYSE:DOCS) Stock

Doximity, Inc. (NYSE:DOCS) insider Siddharth Sitaram sold 2,444 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the completion of the transaction, the insider owned 90,706 shares in the company, valued at approximately $1,851,309.46. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.

Siddharth Sitaram also recently made the following trade(s):

• On Monday, May 11th, Siddharth Sitaram sold 2,309 shares of Doximity stock. The shares were sold at an average price of $25.77, for a total transaction of $59,502.93.
• On Friday, April 10th, Siddharth Sitaram sold 2,427 shares of Doximity stock. The shares were sold at an average price of $21.09, for a total transaction of $51,185.43.

Doximity Trading Down 1.0%

DOCS traded down $0.21 during midday trading on Wednesday, reaching $20.24. The company had a trading volume of 3,963,730 shares, compared to its average volume of 3,821,625. The company has a market capitalization of $3.70 billion, a PE ratio of 20.45, a PEG ratio of 3.45 and a beta of 1.30. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51. The business’s 50-day moving average price is $22.49.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of research analyst reports. Mizuho dropped their target price on shares of Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Barclays reiterated an “equal weight” rating and issued a $20.00 target price (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th. Robert W. Baird reiterated a “neutral” rating and issued a $18.00 target price (down from $40.00) on shares of Doximity in a research note on Thursday, May 14th. Piper Sandler boosted their price target on shares of Doximity from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Finally, Canaccord Genuity Group lowered their price target on shares of Doximity from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Two 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, the company has an average rating of “Hold” and an average price target of $30.62.

Institutional Trading of Doximity

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares during the period. Toth Financial Advisory Corp increased its holdings in Doximity by 100.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after acquiring an additional 500 shares during the period. Hantz Financial Services Inc. increased its holdings in Doximity by 221.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,454 shares of the company’s stock worth $106,000 after acquiring an additional 1,001 shares during the period. Advisory Services Network LLC bought a new stake in Doximity during the 3rd quarter worth approximately $111,000. Finally, Farther Finance Advisors LLC increased its holdings in Doximity by 35.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after acquiring an additional 405 shares during the period. Institutional investors own 87.19% of the company’s stock.

Doximity Company 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.