Capital World Investors Purchases 273,444 Shares of Doximity, Inc. $DOCS

Capital World Investors raised its position in Doximity, Inc. (NYSE:DOCS) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,654,875 shares of the company’s stock after buying an additional 273,444 shares during the quarter. Capital World Investors’ holdings in Doximity were worth $250,398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. 111 Capital bought a new stake in shares of Doximity in the fourth quarter valued at $490,000. Pinebridge Investments LLC bought a new stake in shares of Doximity in the fourth quarter valued at $1,049,000. WINTON GROUP Ltd bought a new stake in shares of Doximity in the fourth quarter valued at $573,000. Lifestyle Asset Management Inc. raised its stake in shares of Doximity by 5.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock valued at $314,000 after buying an additional 396 shares during the period. Finally, Prudential PLC raised its stake in shares of Doximity by 78.8% in the fourth quarter. Prudential PLC now owns 95,138 shares of the company’s stock valued at $4,213,000 after buying an additional 41,930 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Doximity

In related 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 in the company, valued at $1,828,608.45. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 13,736 shares of company stock valued at $345,228. 31.30% of the stock is owned by company insiders.

Doximity Stock Performance

Shares of NYSE DOCS opened at $20.31 on Tuesday. The stock has a market capitalization of $3.71 billion, a PE ratio of 20.52, a PEG ratio of 3.50 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 company has a fifty day moving average of $22.56.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays restated 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. Morgan Stanley lowered their target price on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Robert W. Baird restated 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. Loop Capital set a $31.00 price target on Doximity in a research report on Tuesday, March 17th. Finally, Evercore cut Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price target for the company. in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.62.

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.