Doximity, Inc. $DOCS Shares Purchased by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its Doximity stake by 73.5% in the first quarter, buying 335,490 additional shares and bringing its total to 792,191 shares worth about $18.46 million.
• Institutional ownership of Doximity remains high, with 87.19% of the stock held by institutional investors and hedge funds. Other major holders like Vanguard, William Blair, and Capital World also added to their positions.
• Analysts are mixed on DOCS, with several cutting price targets and the consensus rating at “Hold”. The average price target is $30.62, above the stock’s recent trading price of $20.81.

Fort Washington Investment Advisors Inc. OH raised its stake in Doximity, Inc. (NYSE:DOCS - Free Report) by 73.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 792,191 shares of the company's stock after purchasing an additional 335,490 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.43% of Doximity worth $18,458,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company's stock valued at $588,281,000 after buying an additional 518,916 shares during the period. William Blair Investment Management LLC lifted its position in Doximity by 11.7% in the third quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company's stock worth $426,404,000 after purchasing an additional 609,775 shares during the period. Capital World Investors boosted its stake in Doximity by 5.1% during the fourth quarter. Capital World Investors now owns 5,654,875 shares of the company's stock valued at $250,398,000 after buying an additional 273,444 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Doximity by 6.2% during the 3rd 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. Finally, Invesco Ltd. lifted its position in shares of Doximity by 4.2% during the 4th quarter. Invesco Ltd. now owns 2,426,819 shares of the company's stock valued at $107,460,000 after acquiring an additional 98,519 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Stock Performance

NYSE:DOCS opened at $20.81 on Monday. The company has a 50 day moving average price of $21.92. Doximity, Inc. has a 12 month low of $17.15 and a 12 month high of $76.51. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOCS shares. BMO Capital Markets lowered their target price on Doximity from $25.00 to $20.00 and set a "market perform" rating on the stock in a research note on Thursday, May 14th. Bank of America cut their price objective on shares of Doximity from $56.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Barclays reiterated an "equal weight" rating and issued a $20.00 target price (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th. JPMorgan Chase & Co. dropped their price target on shares of Doximity from $33.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $18.00 price target (down from $32.00) on shares of Doximity in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Doximity currently has an average rating of "Hold" and an average price target of $30.62.

Insiders Place Their Bets

In other 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 sale, the director directly owned 19,839 shares of the company's stock, valued at approximately $517,004.34. This represents a 31.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $49,882.04. Following the completion of the sale, the insider owned 90,706 shares in the company, valued at approximately $1,851,309.46. The trade was a 2.62% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 16,180 shares of company stock valued at $395,110. Company insiders own 31.30% of the company's stock.

About Doximity

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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