Jefferies Financial Group Inc. Trims Stock Holdings in Doximity, Inc. $DOCS

Jefferies Financial Group Inc. reduced its stake in Doximity, Inc. (NYSE:DOCS) by 63.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,100 shares of the company’s stock after selling 29,558 shares during the period. Jefferies Financial Group Inc.’s holdings in Doximity were worth $757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock valued at $588,281,000 after buying an additional 518,916 shares during the period. William Blair Investment Management LLC raised its holdings in Doximity by 11.7% in the 3rd quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock valued at $426,404,000 after buying an additional 609,775 shares during the period. Capital World Investors raised its holdings in Doximity by 25.7% in the 3rd quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after buying an additional 1,101,848 shares during the period. Franklin Resources Inc. raised its holdings in Doximity by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock valued at $245,601,000 after buying an additional 194,912 shares during the period. Finally, Invesco Ltd. grew its position in Doximity by 22.9% in the 3rd quarter. Invesco Ltd. now owns 2,328,300 shares of the company’s stock valued at $170,315,000 after acquiring an additional 433,983 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Doximity

In other news, insider Siddharth Sitaram sold 2,427 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $21.09, for a total transaction of $51,185.43. Following the completion of the transaction, the insider directly owned 86,705 shares of the company’s stock, valued at approximately $1,828,608.45. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the transaction, the director directly owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. This represents a 31.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,055 shares of company stock valued at $456,061. Corporate insiders own 31.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DOCS. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Doximity in a research report on Monday, March 9th. Loop Capital set a $31.00 target price on Doximity in a research report on Tuesday, March 17th. BMO Capital Markets dropped their target price on Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, May 14th. Barclays reaffirmed an “equal weight” rating and issued a $20.00 target price (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. Finally, Weiss Ratings downgraded Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has 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 price target of $30.62.

Doximity Stock Performance

Shares of Doximity stock opened at $21.35 on Friday. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The firm has a market capitalization of $3.90 billion, a P/E ratio of 21.57, a PEG ratio of 2.74 and a beta of 1.36. The stock’s 50-day moving average is $22.96.

Doximity declared that its Board of Directors has approved a share buyback program on Thursday, February 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.