Amundi Buys 563,436 Shares of Doximity, Inc. $DOCS

Key Points

• Amundi dramatically increased its Doximity stake by purchasing 563,436 shares in the first quarter, bringing its holdings to 569,095 shares worth approximately $13.26 million. Institutional investors collectively own 87.19% of the company.
• Doximity insiders sold 13,753 shares worth $343,925 during the last quarter, including transactions conducted under pre-arranged Rule 10b5-1 plans; one sale was made to cover tax obligations tied to vested equity awards.
• Analyst sentiment is mixed but leans toward “Hold”: several firms downgraded or lowered price targets, and the stock’s average target is $29.33 versus a recent price of $21.90.

Amundi grew its stake in shares of Doximity, Inc. (NYSE:DOCS - Free Report) by 9,956.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 569,095 shares of the company's stock after buying an additional 563,436 shares during the period. Amundi owned approximately 0.31% of Doximity worth $13,260,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 purchasing an additional 397 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Doximity by 111.0% in the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company's stock valued at $60,000 after buying an additional 1,347 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Doximity by 937.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company's stock worth $66,000 after acquiring an additional 2,560 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of 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. Finally, Leonteq Securities AG boosted its position in shares of Doximity by 65.6% during the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company's stock valued at $68,000 after acquiring an additional 1,154 shares in the last quarter. Institutional investors own 87.19% of the company's stock.

Insider Activity 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 value of $234,540.00. Following the transaction, the director 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of the transaction, the insider owned 90,706 shares in the company, valued at $1,851,309.46. This represents a 2.62% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 13,753 shares of company stock valued at $343,925. 31.80% of the stock is owned by corporate insiders.

Doximity Stock Performance

NYSE DOCS opened at $21.90 on Wednesday. The stock has a fifty day moving average of $21.14 and a 200-day moving average of $24.63. The stock has a market capitalization of $4.00 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 7.86 and a beta of 1.29. Doximity, Inc. has a 52 week low of $17.15 and a 52 week high of $76.51.

Analysts Set New Price Targets

A number of research analysts have commented on DOCS shares. Evercore cut shares of Doximity from an "outperform" rating to an "in-line" rating and set a $25.00 price target for the company. in a research note on Wednesday, April 8th. Mizuho dropped their target price on Doximity from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. Zacks Research upgraded Doximity from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Bank of America reaffirmed an "underperform" rating and issued a $20.00 price target (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Finally, BTIG Research cut Doximity from a "buy" rating to a "neutral" rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $29.33.

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.

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