Harel Insurance Investments & Financial Services Ltd. Purchases 90,341 Shares of Doximity, Inc. $DOCS

Key Points

• Harel Insurance raised its stake in Doximity by 108.5%, purchasing 90,341 shares to hold 173,621 shares (about 0.09% of the company) valued at roughly $7.69 million at quarter-end.
• Doximity's board approved a $500 million share buyback program, authorizing repurchases of up to about 8% of its outstanding stock.
• Insiders sold 9,028 shares (≈$225,641) in the last quarter—insiders still own 31.3%—and analysts' consensus is a Moderate Buy with an average price target of about $41.26.

Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Doximity, Inc. (NYSE:DOCS - Free Report) by 108.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,621 shares of the company's stock after buying an additional 90,341 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned about 0.09% of Doximity worth $7,688,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Doximity by 59.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company's stock valued at $35,000 after buying an additional 179 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Doximity by 0.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 27,500 shares of the company's stock valued at $2,012,000 after purchasing an additional 200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Doximity by 0.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock valued at $2,262,000 after purchasing an additional 210 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Doximity by 14.0% in the 3rd quarter. Rakuten Securities Inc. now owns 1,763 shares of the company's stock valued at $129,000 after purchasing an additional 217 shares in the last quarter. Finally, BOKF NA raised its holdings in shares of Doximity by 5.3% in the 3rd quarter. BOKF NA now owns 5,356 shares of the company's stock valued at $392,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Buying and Selling at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at approximately $515,814. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Siddharth Sitaram sold 2,427 shares of Doximity stock in a transaction on Friday, April 10th. The stock was sold at an average price of $21.09, for a total transaction of $51,185.43. Following the sale, the insider owned 86,705 shares of the company's stock, valued at $1,828,608.45. The trade was a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 9,028 shares of company stock valued at $225,641 over the last quarter. Insiders own 31.30% of the company's stock.

Doximity Stock Up 3.6%

NYSE DOCS opened at $25.79 on Wednesday. Doximity, Inc. has a 12-month low of $20.55 and a 12-month high of $76.51. The business has a fifty day moving average price of $24.14. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 1.77 and a beta of 1.36.

Doximity (NYSE:DOCS - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. During the same quarter in the prior year, the company earned $0.45 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. On average, analysts forecast that Doximity, Inc. will post 1.11 EPS for the current year.

Doximity announced that its board has approved a stock buyback program on Thursday, February 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOCS. Piper Sandler lifted their price objective on shares of Doximity from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, February 20th. BTIG Research dropped their target price on Doximity from $80.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Wall Street Zen cut Doximity from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. 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 research report on Thursday, April 16th. Finally, Zacks Research raised Doximity from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Doximity presently has an average rating of "Moderate Buy" and an average price target of $41.26.

Doximity Company 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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