Assenagon Asset Management S.A. Makes New $28.86 Million Investment in Doximity, Inc. $DOCS

Key Points

• Assenagon Asset Management initiated a roughly $28.86 million position in Doximity, purchasing 1.02 million shares, while institutional investors collectively own 87.19% of the company.
• Doximity’s latest quarterly results exceeded expectations, with adjusted earnings of $0.29 per share versus the $0.16 consensus estimate and revenue of $156.62 million, up 7.3% year over year.
• Investor sentiment remains mixed: analysts’ consensus rating is Hold with a $30.73 price target, while insider selling and securities-fraud class-action allegations add potential pressure despite the company’s U.S. News partnership extension.

Assenagon Asset Management S.A. bought a new stake in shares of Doximity, Inc. (NYSE:DOCS - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,018,261 shares of the company's stock, valued at approximately $28,858,000. Assenagon Asset Management S.A. owned 0.57% of Doximity at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in Doximity by 1,176.9% in the third quarter. Versant Capital Management Inc now owns 1,826 shares of the company's stock valued at $52,000 after acquiring an additional 1,683 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Doximity by 31,271.4% during the 3rd quarter. Fortitude Family Office LLC now owns 2,196 shares of the company's stock worth $62,000 after acquiring an additional 2,189 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Doximity by 111.0% during the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company's stock worth $60,000 after acquiring an additional 1,347 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 in the last quarter. Finally, Leonteq Securities AG grew 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 during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Siddharth Sitaram sold 2,613 shares of the company's stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $30.68, for a total value of $80,166.84. Following the transaction, the chief accounting officer owned 101,432 shares of the company's stock, valued at $3,111,933.76. This represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Wampler sold 2,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $28.91, for a total value of $57,820.00. Following the sale, the director directly owned 27,923 shares of the company's stock, valued at $807,253.93. The trade was a 6.68% 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. Insiders have sold 19,250 shares of company stock worth $613,855 over the last ninety days. Company insiders own 31.80% of the company's stock.

Doximity Trading Down 0.5%

Shares of DOCS opened at $30.81 on Monday. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $71.37. The firm has a market capitalization of $5.49 billion, a P/E ratio of 36.25, a P/E/G ratio of 24.22 and a beta of 1.22. The firm has a 50-day moving average price of $26.75 and a 200 day moving average price of $23.63.

Doximity (NYSE:DOCS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.13. The company had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. Doximity's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. Equities research analysts predict that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Doximity News Roundup

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity extended its 13-year alliance with U.S. News, supporting physician searches, appointment booking and hospital rankings. The partnership could reinforce user engagement and patient-access offerings. Doximity Deepens U.S. News Alliance to Improve Patient Access to Care
• Neutral Sentiment: Doximity will release fiscal 2027 second-quarter results on November 5, giving investors the next major opportunity to assess growth, advertising trends and management’s outlook. Doximity to Release Fiscal 2027 Second Quarter Results on November 5, 2026
• Negative Sentiment: Several law firms publicized a securities-fraud class action against Doximity and certain individuals, including co-founder and former Chief Strategy Officer Nate Gross. The allegations reportedly concern statements that Doximity could gain market share while older advertising formats were losing ground to programmatic and social-media competitors; the claims have not been established in court.
• Negative Sentiment: Investors who purchased DOCS shares between August 8, 2024 and May 13, 2026 are being reminded that November 16, 2026 is the deadline to seek appointment as lead plaintiff. Repeated announcements from Robbins Geller, SBS Law, Kaplan Fox, Rosen, Pomerantz, Bronstein Gewirtz Grossman and other firms increase the visibility of the legal overhang and could weigh on sentiment. DOCS Investor Alert

Analysts Set New Price Targets

Several brokerages recently weighed in on DOCS. BMO Capital Markets restated a "market perform" rating and issued a $30.00 price target on shares of Doximity in a research note on Friday, August 7th. Canaccord Genuity Group set a $36.00 target price on Doximity in a research report on Friday, August 7th. Raymond James Financial reissued an "outperform" rating and issued a $38.00 price target on shares of Doximity in a research note on Friday. Bank of America restated an "underperform" rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a research report on Monday, June 29th. Finally, Citigroup downgraded shares of Doximity to an "underperform" rating in a report on Monday, June 29th. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of "Hold" and a consensus target price of $30.73.

Doximity Company Profile

Doximity, Inc operates a digital platform designed for U.S. medical professionals. Its network enables physicians, nurse practitioners, physician assistants and other healthcare providers to connect with colleagues, exchange clinical information and access professional resources.

The company offers tools for telehealth and care coordination, including video and phone-based communication services, as well as digital faxing and secure messaging capabilities. Doximity also provides medical news and research content tailored to healthcare professionals.

Doximity generates additional business through recruiting and marketing solutions that help healthcare organizations reach clinicians and promote employment opportunities, services and products.

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