Strategic Global Advisors LLC Makes New Investment in Doximity, Inc. $DOCS

Strategic Global Advisors LLC bought a new stake in shares of Doximity, Inc. (NYSE:DOCS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 55,955 shares of the company’s stock, valued at approximately $2,478,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCS. Carmignac Gestion raised its holdings in Doximity by 355.9% during the 4th quarter. Carmignac Gestion now owns 1,893,026 shares of the company’s stock valued at $83,831,000 after acquiring an additional 1,477,798 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Doximity by 325,436.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after acquiring an additional 1,298,492 shares during the period. Federated Hermes Inc. raised its holdings in Doximity by 3,422.7% during the 4th quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock valued at $55,309,000 after acquiring an additional 1,213,627 shares during the period. Capital World Investors raised its holdings in Doximity by 25.7% during the 3rd quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after acquiring an additional 1,101,848 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Doximity by 525.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,096,965 shares of the company’s stock valued at $80,243,000 after acquiring an additional 921,533 shares during the period. Institutional investors own 87.19% of the company’s stock.

Insider Buying and Selling at Doximity

In related news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of the transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the transaction, the director owned 19,839 shares of the company’s stock, valued at $517,004.34. This trade 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. In the last ninety days, insiders sold 16,180 shares of company stock worth $395,110. Insiders own 31.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DOCS. Truist Financial reissued a “hold” rating and set a $19.00 target price (down from $29.00) on shares of Doximity in a report on Thursday, May 14th. Loop Capital set a $31.00 target price on shares of Doximity in a report on Tuesday, March 17th. Evercore cut shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 target price on the stock. in a report on Wednesday, April 8th. BMO Capital Markets lowered their target price on shares of Doximity from $25.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, May 14th. Finally, BTIG Research cut shares of Doximity from a “buy” rating to a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.62.

Doximity Trading Down 0.1%

Doximity stock opened at $20.02 on Monday. The company has a market capitalization of $3.66 billion, a PE ratio of 20.22, a P/E/G ratio of 3.41 and a beta of 1.30. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The stock has a fifty day moving average price of $22.30.

About Doximity

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.