Doximity, Inc. $DOCS Shares Acquired by Whittier Trust Co. of Nevada Inc.

Key Points

• Whittier Trust Co. of Nevada Inc. significantly increased its Doximity stake in Q1, buying 97,542 shares and lifting its holdings by 32,406% to 97,843 shares valued at about $2.26 million.
• Other institutional investors also added to positions, and overall 87.19% of Doximity’s stock is owned by institutions and hedge funds.
• Several analysts have recently cut price targets on DOCS, and the stock currently has a consensus Hold rating with a consensus target price of $29.33.

Whittier Trust Co. of Nevada Inc. lifted its stake in Doximity, Inc. (NYSE:DOCS - Free Report) by 32,406.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,843 shares of the company's stock after buying an additional 97,542 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned approximately 0.05% of Doximity worth $2,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Doximity by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company's stock valued at $588,281,000 after acquiring an additional 518,916 shares in the last quarter. Capital World Investors boosted its position in Doximity by 5.1% in the 4th quarter. Capital World Investors now owns 5,654,875 shares of the company's stock worth $250,398,000 after purchasing an additional 273,444 shares in the last quarter. Franklin Resources Inc. boosted its position in Doximity by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company's stock worth $245,601,000 after purchasing an additional 194,912 shares in the last quarter. Invesco Ltd. grew its stake in shares of Doximity by 4.2% during the 4th quarter. Invesco Ltd. now owns 2,426,819 shares of the company's stock worth $107,460,000 after purchasing an additional 98,519 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Doximity by 8.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,365,449 shares of the company's stock worth $104,742,000 after purchasing an additional 185,247 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Doximity

In related news, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction that occurred 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 sale, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Doximity 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 transaction, the director owned 19,839 shares in the company, valued at approximately $517,004.34. The trade was a 31.21% decrease in their position. 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. Over the last 90 days, insiders have sold 16,180 shares of company stock worth $395,110. Insiders own 31.30% of the company's stock.

Doximity Stock Performance

Shares of NYSE:DOCS traded up $0.08 during midday trading on Tuesday, hitting $22.94. The company's stock had a trading volume of 510,151 shares, compared to its average volume of 3,792,135. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51. The company has a market cap of $4.20 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 6.79 and a beta of 1.30. The business's 50 day simple moving average is $21.62 and its 200 day simple moving average is $28.09.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOCS. BMO Capital Markets dropped their price target on shares of Doximity from $25.00 to $20.00 and set a "market perform" rating on the stock in a research report on Thursday, May 14th. Needham & Company LLC decreased their target price on Doximity from $55.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, May 14th. Robert W. Baird reissued a "neutral" rating and issued a $18.00 price target (down from $40.00) on shares of Doximity in a report on Thursday, May 14th. Morgan Stanley reduced their price objective on shares of Doximity from $49.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, May 14th. Finally, Bank of America reiterated an "underperform" rating and issued a $20.00 target price (down from $38.00) on shares of Doximity in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.33.

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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