Weiss Asset Management LP Makes New $587,000 Investment in Doximity, Inc. $DOCS

Weiss Asset Management LP acquired a new stake in Doximity, Inc. (NYSE:DOCS) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,204 shares of the company’s stock, valued at approximately $587,000.

Several other large investors have also made changes to their positions in the business. Carmignac Gestion grew its stake in 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 acquiring an additional 1,477,798 shares during the period. SG Americas Securities LLC raised its position in Doximity by 3,403.2% during the first quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock worth $32,820,000 after acquiring an additional 1,368,388 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Doximity by 325,436.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after purchasing an additional 1,298,492 shares in the last quarter. Federated Hermes Inc. grew its position in shares of 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 purchasing an additional 1,213,627 shares during the period. Finally, Swedbank AB increased its stake in Doximity by 1,147.9% during the 1st quarter. Swedbank AB now owns 1,010,559 shares of the company’s stock worth $23,546,000 after buying an additional 929,576 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Price Performance

DOCS stock opened at $20.93 on Tuesday. The business has a 50 day simple moving average of $20.92 and a 200-day simple moving average of $25.55. The firm has a market capitalization of $3.83 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 6.14 and a beta of 1.30. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $76.51.

Insider Buying and Selling

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of the sale, the insider directly 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 through 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 firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the sale, the director directly owned 19,839 shares of the company’s stock, valued at $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 13,753 shares of company stock worth $343,925. 31.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOCS has been the topic of several research reports. Barclays restated an “equal weight” rating and issued a $20.00 target price (down from $38.00) on shares of Doximity 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. Citigroup downgraded Doximity to an “underperform” rating in a research note on Monday, June 29th. Evercore lowered Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price objective on the stock. in a report on Wednesday, April 8th. Finally, Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down from $29.00) on shares of Doximity in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.33.

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.