Capital World Investors Has $250.40 Million Holdings in Doximity, Inc. $DOCS

Key Points

• Capital World Investors increased its Doximity stake by 5.1% in the fourth quarter, bringing its holdings to 5.65 million shares valued at about $250.4 million.
• Other major institutions also added to Doximity, and hedge funds and institutional investors now own 87.19% of the company’s stock.
• Analyst sentiment is mixed: Doximity has a Hold consensus rating with an average target price of $30.62, while several firms recently cut price targets or downgraded the stock.

Capital World Investors raised its position in Doximity, Inc. (NYSE:DOCS - Free Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,654,875 shares of the company's stock after acquiring an additional 273,444 shares during the period. Capital World Investors owned approximately 3.00% of Doximity worth $250,398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DOCS. Vanguard Group Inc. lifted its holdings in shares of Doximity by 4.1% in the fourth 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 in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Doximity by 11.7% in the third quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company's stock valued at $426,404,000 after purchasing an additional 609,775 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Doximity by 6.2% in the third quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company's stock valued at $245,601,000 after purchasing an additional 194,912 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Doximity by 22.9% in the third quarter. Invesco Ltd. now owns 2,328,300 shares of the company's stock valued at $170,315,000 after purchasing an additional 433,983 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Doximity by 4.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,301,299 shares of the company's stock valued at $95,203,000 after purchasing an additional 54,110 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of recent research reports. Freedom Capital upgraded Doximity to a "strong-buy" rating in a report on Tuesday, March 17th. Needham & Company LLC dropped their target price on Doximity from $55.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Zacks Research lowered Doximity from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 2nd. Wells Fargo & Company restated an "equal weight" rating and issued a $18.00 target price (down from $32.00) on shares of Doximity in a report on Thursday, May 14th. Finally, Bank of America dropped 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $30.62.

Insiders Place Their Bets

In related news, Director Kira Scherer Wampler sold 9,000 shares of Doximity 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 sale, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,309 shares of Doximity stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.77, for a total value of $59,502.93. Following the sale, the insider owned 89,396 shares in the company, valued at $2,303,734.92. This trade represents a 2.52% 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. Insiders have sold 13,736 shares of company stock worth $345,228 over the last quarter. 31.30% of the stock is currently owned by corporate insiders.

Doximity Stock Down 1.4%

Shares of Doximity stock opened at $20.31 on Tuesday. The stock's fifty day simple moving average is $22.56. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 3.50 and a beta of 1.30. Doximity, Inc. has a 12 month low of $17.15 and a 12 month 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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