Riverbridge Partners LLC Trims Position in Doximity, Inc. $DOCS

Riverbridge Partners LLC reduced its stake in shares of Doximity, Inc. (NYSE:DOCS) by 7.3% during the first quarter, Holdings Channel reports. The firm owned 489,742 shares of the company’s stock after selling 38,836 shares during the quarter. Riverbridge Partners LLC’s holdings in Doximity were worth $11,411,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Doximity by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after purchasing an additional 210 shares in the last quarter. BOKF NA increased its position in shares of Doximity by 5.3% during the third quarter. BOKF NA now owns 5,356 shares of the company’s stock valued at $392,000 after acquiring an additional 269 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Doximity by 1.1% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock valued at $1,361,000 after purchasing an additional 333 shares in the last quarter. Lifestyle Asset Management Inc. lifted its stake in Doximity by 5.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock valued at $314,000 after acquiring an additional 396 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the period. Institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings lowered shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Royal Bank Of Canada restated an “outperform” rating and issued a $44.00 price target on shares of Doximity in a research note on Monday, March 9th. Jefferies Financial Group cut Doximity from a “buy” rating to a “hold” rating and cut their price target for the company from $51.00 to $19.00 in a report on Thursday, May 14th. Evercore cut shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 target price on the stock. in a research report on Wednesday, April 8th. Finally, Mizuho lowered their price target on Doximity from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.62.

Insider Transactions at Doximity

In other news, insider Siddharth Sitaram sold 2,444 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were 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 in the company, valued at approximately $1,851,309.46. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the sale, the director directly owned 19,839 shares in the company, valued at $517,004.34. This trade represents a 31.21% 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. Insiders have sold a total of 16,180 shares of company stock worth $395,110 in the last three months. Insiders own 31.30% of the company’s stock.

Doximity Stock Up 2.4%

Shares of NYSE DOCS opened at $20.56 on Wednesday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 3.42 and a beta of 1.30. Doximity, Inc. has a 52-week low of $17.15 and a 52-week high of $76.51. The company has a 50 day moving average price of $22.07.

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.