Swedbank AB Has $23.55 Million Position in Doximity, Inc. $DOCS

Swedbank AB increased its holdings in Doximity, Inc. (NYSE:DOCS) by 1,147.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,010,559 shares of the company’s stock after purchasing an additional 929,576 shares during the period. Swedbank AB’s holdings in Doximity were worth $23,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCS. Carmignac Gestion grew its stake in shares of Doximity by 355.9% in the 4th quarter. Carmignac Gestion now owns 1,893,026 shares of the company’s stock valued at $83,831,000 after purchasing an additional 1,477,798 shares during the period. SG Americas Securities LLC boosted its stake in Doximity by 3,403.2% in the 1st quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock valued at $32,820,000 after buying an additional 1,368,388 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Doximity by 325,436.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after buying an additional 1,298,492 shares in the last quarter. Federated Hermes Inc. grew its position in Doximity by 3,422.7% in the fourth quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock valued at $55,309,000 after acquiring an additional 1,213,627 shares during the period. Finally, Capital World Investors raised its stake in Doximity by 25.7% during the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock worth $393,652,000 after acquiring an additional 1,101,848 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of DOCS stock opened at $22.03 on Friday. Doximity, Inc. has a 52 week low of $17.15 and a 52 week high of $76.51. The stock has a market capitalization of $4.03 billion, a PE ratio of 22.25, a PEG ratio of 6.74 and a beta of 1.30. The stock’s fifty day moving average is $21.48 and its 200-day moving average is $27.49.

Wall Street Analysts Forecast Growth

DOCS has been the subject of a number of analyst reports. Truist Financial reissued a “hold” rating and set a $19.00 price objective (down from $29.00) on shares of Doximity in a report on Thursday, May 14th. Leerink Partners lowered their target price on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. BMO Capital Markets dropped their target price on shares of Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, May 14th. Freedom Capital raised shares of Doximity to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, The Goldman Sachs Group reduced their price target on shares of Doximity from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.33.

Insider Activity

In related news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the transaction, the insider owned 90,706 shares in the company, valued at $1,851,309.46. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the sale, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. This represents a 31.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 13,753 shares of company stock worth $343,925. 31.30% of the stock is owned by corporate insiders.

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.