Entropy Technologies LP Invests $2.03 Million in Doximity, Inc. $DOCS

Entropy Technologies LP bought a new position in shares of Doximity, Inc. (NYSE:DOCS) in the fourth quarter, Holdings Channel.com reports. The fund bought 45,938 shares of the company’s stock, valued at approximately $2,034,000.

A number of other large investors have also modified their holdings of DOCS. Royal Bank of Canada grew its holdings in shares of Doximity by 24.2% during the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock worth $6,200,000 after buying an additional 20,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Doximity by 0.5% during 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 acquiring an additional 210 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Doximity by 613.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after acquiring an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Doximity by 33.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after acquiring an additional 63,873 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Doximity during the 1st quarter valued at about $283,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Trading Up 2.9%

Shares of NYSE DOCS opened at $20.62 on Tuesday. The firm has a 50 day moving average price of $22.26. 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 $3.77 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 3.41 and a beta of 1.30.

Insiders Place Their Bets

In related news, insider Siddharth Sitaram sold 2,444 shares of the business’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 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 filing with the Securities & Exchange Commission, 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 dated Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the transaction, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. The trade was 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. Insiders sold 16,180 shares of company stock valued at $395,110 over the last ninety days. Insiders own 31.30% of the company’s stock.

Analysts Set New Price Targets

DOCS has been the topic of several recent research reports. Freedom Capital raised shares of Doximity to a “strong-buy” rating in a research report on Tuesday, March 17th. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Barclays reissued an “equal weight” rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. Piper Sandler boosted their price target on shares of Doximity from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Finally, Zacks Research cut shares of Doximity from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.62.

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.