Fort Washington Investment Advisors Inc. OH Sells 368,718 Shares of Doximity, Inc. $DOCS

Key Points

• Fort Washington Investment Advisors cut its Doximity stake by 35.2%, selling 368,718 shares and retaining 677,876 shares worth approximately $19.2 million. Institutional investors collectively own 87.19% of DOCS.
• Doximity reported quarterly revenue of $156.6 million, up 7.3% year over year, and EPS of $0.29, beating analyst expectations of $0.16. Shares opened at $31.51, near the analyst consensus price target of $31.95, while the overall analyst consensus remains “Hold.”
• The company extended its partnership with U.S. News, but faces headline and litigation risk from securities class-action allegations concerning disclosures about its Newsfeed and advertising growth. Doximity is scheduled to report fiscal 2027 second-quarter results on November 5.

Fort Washington Investment Advisors Inc. OH decreased its stake in shares of Doximity, Inc. (NYSE:DOCS - Free Report) by 35.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 677,876 shares of the company's stock after selling 368,718 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.38% of Doximity worth $19,211,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in Doximity by 31,271.4% in the 3rd quarter. Fortitude Family Office LLC now owns 2,196 shares of the company's stock worth $62,000 after purchasing an additional 2,189 shares in the last quarter. Krilogy Financial LLC bought a new position in shares of Doximity during the 3rd quarter valued at about $220,000. Sax Wealth Advisors LLC bought a new position in shares of Doximity during the 3rd quarter valued at about $205,000. GAMMA Investing LLC grew its position in shares of Doximity by 19.8% during the third quarter. GAMMA Investing LLC now owns 5,834 shares of the company's stock valued at $165,000 after purchasing an additional 963 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Doximity by 265.4% during the third quarter. Farther Finance Advisors LLC now owns 7,180 shares of the company's stock valued at $203,000 after purchasing an additional 5,215 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 7,500 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.11, for a total transaction of $293,325.00. Following the sale, the director directly owned 3,221 shares in the company, valued at approximately $125,973.31. This represents a 69.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 2,077 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $26.02, for a total transaction of $54,043.54. Following the completion of the transaction, the chief accounting officer directly owned 96,045 shares of the company's stock, valued at approximately $2,499,090.90. The trade was a 2.12% 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 90 days, insiders have sold 16,637 shares of company stock valued at $533,688. Corporate insiders own 31.80% of the company's stock.

Doximity Stock Performance

Shares of DOCS opened at $31.51 on Friday. The company's fifty day moving average is $26.68 and its 200 day moving average is $23.58. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $71.37. The stock has a market capitalization of $5.62 billion, a PE ratio of 32.88, a P/E/G ratio of 23.40 and a beta of 1.22.

Doximity (NYSE:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The company had revenue of $156.62 million for the quarter. During the same period in the previous year, the company earned $0.36 EPS. Doximity's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that Doximity, Inc. will post 0.74 earnings per share for the current year.

Key Stories Impacting Doximity

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity extended its 13-year partnership with U.S. News, expanding tools for physician discovery, appointment booking and hospital rankings. The agreement could support user engagement, patient-access initiatives and longer-term monetization of Doximity’s physician network. Doximity Deepens U.S. News Alliance to Improve Patient Access to Care
• Neutral Sentiment: Doximity said it will release fiscal 2027 second-quarter results on November 5. The report will provide investors with an update on revenue growth, advertising demand and profitability following the company’s latest quarter, when revenue rose 7.3% year over year and adjusted earnings exceeded estimates. Doximity to Release Fiscal 2027 Second Quarter Results
• Negative Sentiment: Several law firms publicized a securities class action covering investors who purchased DOCS shares from August 8, 2024, through May 13, 2026. The filings allege that Doximity overstated the growth and contribution of its Newsfeed and advertising products while traditional ad formats reportedly lost share to programmatic and social-media competitors. The company’s CEO, former CFO and co-founder/former Chief Strategy Officer Nate Gross are among the named defendants in related allegations. Investors face a November 16, 2026 lead-plaintiff deadline. The announcements are largely duplicative, but they increase headline risk, potential litigation costs and investor concerns about the company’s prior disclosures. Doximity Securities Class Action Announcement

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DOCS shares. Bank of America reaffirmed an "underperform" rating and issued a $20.00 target price (down from $38.00) on shares of Doximity in a report on Monday, June 29th. BMO Capital Markets reiterated a "market perform" rating and issued a $30.00 target price on shares of Doximity in a research report on Friday, August 7th. Barclays increased their price target on Doximity from $20.00 to $27.00 and gave the company an "equal weight" rating in a research note on Friday, August 21st. Wolfe Research raised Doximity to an "outperform" rating in a research note on Thursday, August 13th. Finally, Zacks Research upgraded Doximity from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $31.95.

About Doximity

Doximity, Inc operates a digital platform designed for U.S. medical professionals. Its network enables physicians, nurse practitioners, physician assistants and other healthcare providers to connect with colleagues, exchange clinical information and access professional resources.

The company offers tools for telehealth and care coordination, including video and phone-based communication services, as well as digital faxing and secure messaging capabilities. Doximity also provides medical news and research content tailored to healthcare professionals.

Doximity generates additional business through recruiting and marketing solutions that help healthcare organizations reach clinicians and promote employment opportunities, services and products.

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