Bank of Nova Scotia Takes Position in Doximity, Inc. $DOCS

Bank of Nova Scotia bought a new stake in Doximity, Inc. (NYSE:DOCS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 434,751 shares of the company's stock, valued at approximately $10,130,000. Bank of Nova Scotia owned 0.24% of Doximity as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DOCS. Northwestern Mutual Wealth Management Co. increased its position in Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company's stock worth $35,000 after buying an additional 397 shares during the period. Toth Financial Advisory Corp grew its position in shares of Doximity by 100.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company's stock worth $44,000 after acquiring an additional 500 shares during the last quarter. Parallel Advisors LLC increased its holdings 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 acquiring an additional 1,347 shares during the period. Farther Finance Advisors LLC increased its stake in Doximity by 35.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company's stock valued at $68,000 after purchasing an additional 405 shares during the period. Finally, Leonteq Securities AG raised its stake in 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 last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Analysts Set New Price Targets

DOCS has been the topic of several recent research reports. Needham & Company LLC dropped their price objective on shares of Doximity from $55.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. BMO Capital Markets reduced their price objective on shares of Doximity from $25.00 to $20.00 and set a "market perform" rating for the company in a research report on Thursday, May 14th. The Goldman Sachs Group reduced their price objective on shares of Doximity from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, May 14th. Zacks Research upgraded shares of Doximity from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Citigroup downgraded shares of Doximity to an "underperform" rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Doximity has an average rating of "Hold" and a consensus price target of $29.33.

Insider Activity at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 90,706 shares of the company's stock, valued at $1,851,309.46. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the sale, the director directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,753 shares of company stock worth $343,925 in the last 90 days. 31.80% of the stock is currently owned by insiders.

Doximity Stock Up 0.0%

Shares of DOCS opened at $20.42 on Monday. The firm has a market cap of $3.73 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 6.14 and a beta of 1.30. The company's fifty day moving average is $20.89 and its two-hundred day moving average is $25.73. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51.

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.

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