Fieldview Capital Management LLC Purchases New Position in Doximity, Inc. $DOCS

Fieldview Capital Management LLC purchased a new stake in shares of Doximity, Inc. (NYSE:DOCS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,729 shares of the company’s stock, valued at approximately $1,361,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Doximity by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock valued at $588,281,000 after purchasing an additional 518,916 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Doximity by 11.7% during the 3rd quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock worth $426,404,000 after acquiring an additional 609,775 shares during the period. Capital World Investors grew its holdings in shares of Doximity by 5.1% during the 4th quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock worth $250,398,000 after acquiring an additional 273,444 shares during the period. Franklin Resources Inc. grew its holdings in shares of Doximity by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock worth $245,601,000 after acquiring an additional 194,912 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Doximity by 8.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,365,449 shares of the company’s stock worth $104,742,000 after acquiring an additional 185,247 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

DOCS stock opened at $20.02 on Monday. The company has a market cap of $3.66 billion, a PE ratio of 20.22, a PEG ratio of 3.41 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 company has a 50 day simple moving average of $22.30.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of research analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $18.00 target price (down from $32.00) on shares of Doximity in a report on Thursday, May 14th. KeyCorp downgraded Doximity from an “overweight” rating to a “sector weight” rating in a report on Thursday, May 14th. Bank of America reduced their target price on Doximity from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Jefferies Financial Group downgraded Doximity from a “buy” rating to a “hold” rating and reduced their target price for the stock from $51.00 to $19.00 in a report on Thursday, May 14th. Finally, The Goldman Sachs Group cut their price target on Doximity from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.62.

Insider Buying and Selling at Doximity

In other news, Director Kira Scherer Wampler sold 9,000 shares of the 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the 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 transaction, the insider directly owned 90,706 shares in the company, valued at $1,851,309.46. The trade was a 2.62% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,180 shares of company stock worth $395,110 over the last three months. Insiders own 31.30% of the company’s stock.

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.