Doximity, Inc. $DOCS Shares Acquired by Carmignac Gestion

Carmignac Gestion lifted its holdings in Doximity, Inc. (NYSE:DOCS - Free Report) by 127.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,311,997 shares of the company's stock after acquiring an additional 2,418,971 shares during the quarter. Doximity accounts for 1.5% of Carmignac Gestion's holdings, making the stock its 18th biggest position. Carmignac Gestion owned approximately 2.36% of Doximity worth $100,480,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in Doximity by 99.5% in 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. Toth Financial Advisory Corp lifted its stake in shares of Doximity by 100.0% in the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company's stock valued at $44,000 after purchasing an additional 500 shares during the period. Parallel Advisors LLC lifted 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 purchasing an additional 1,347 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Doximity by 937.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company's stock worth $66,000 after buying an additional 2,560 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Doximity by 35.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company's stock worth $68,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Needham & Company LLC cut their price objective on shares of Doximity from $55.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, May 14th. Jefferies Financial Group cut Doximity from a "buy" rating to a "hold" rating and dropped their target price for the company from $51.00 to $19.00 in a research report on Thursday, May 14th. Leerink Partners cut their price target on Doximity from $31.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. Bank of America reaffirmed an "underperform" rating and issued a $20.00 price target (down from $38.00) on shares of Doximity in a report on Monday, June 29th. Finally, Mizuho lowered their price target on Doximity from $34.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Doximity currently has an average rating of "Hold" and a consensus price target of $29.33.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 9,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. This represents a 31.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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 sale, the insider directly owned 90,706 shares of the company's stock, valued at approximately $1,851,309.46. This trade represents a 2.62% decrease in their position. 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 sold 13,753 shares of company stock valued at $343,925 over the last quarter. 31.80% of the stock is currently owned by company insiders.

Doximity Price Performance

Doximity stock opened at $20.95 on Monday. The firm has a 50 day simple moving average of $21.06 and a 200-day simple moving average of $24.90. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 7.59 and a beta of 1.29. Doximity, Inc. has a 1-year low of $17.15 and a 1-year 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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