Y Intercept Hong Kong Ltd Buys Shares of 203,182 Doximity, Inc. $DOCS

Y Intercept Hong Kong Ltd bought a new stake in Doximity, Inc. (NYSE:DOCS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 203,182 shares of the company’s stock, valued at approximately $8,997,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCS. Royal Bank of Canada grew its stake in Doximity by 24.2% in the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after acquiring an additional 20,847 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after buying an additional 210 shares during the period. NewEdge Advisors LLC boosted its position in shares of Doximity by 613.7% during the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after buying an additional 5,437 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Doximity by 33.3% during the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after buying an additional 63,873 shares during the period. Finally, Focus Partners Wealth acquired a new position in shares of Doximity during the first quarter worth about $283,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Stock Up 0.0%

Shares of NYSE DOCS opened at $20.02 on Friday. The company’s 50 day moving average is $22.30. Doximity, Inc. has a 52 week low of $17.15 and a 52 week high of $76.51. The firm has a market capitalization of $3.66 billion, a PE ratio of 20.22, a PEG ratio of 3.41 and a beta of 1.30.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DOCS. JPMorgan Chase & Co. reduced their price objective on Doximity from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. KeyCorp cut Doximity from an “overweight” rating to a “sector weight” rating in a research report on Thursday, May 14th. Leerink Partners reduced their price objective on Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Mizuho reduced their price objective on Doximity from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Morgan Stanley reduced their price objective on Doximity from $49.00 to $35.00 and set an “overweight” 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 assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Doximity currently has a consensus rating of “Hold” and an average price target of $30.62.

Insider Activity at Doximity

In related 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 transaction of $234,540.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible 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 stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the transaction, the insider directly owned 90,706 shares of the company’s stock, valued at $1,851,309.46. This trade represents a 2.62% 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 16,180 shares of company stock valued at $395,110 over the last three months. Insiders own 31.30% of the company’s stock.

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.