Bank of New York Mellon Corp Cuts Holdings in Doximity, Inc. $DOCS

Bank of New York Mellon Corp lessened its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,031,735 shares of the company’s stock after selling 106,177 shares during the period. Bank of New York Mellon Corp’s holdings in Doximity were worth $63,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new stake in shares of Doximity in the first quarter worth about $201,000. Bank of Nova Scotia purchased a new position in Doximity in the 1st quarter worth approximately $651,000. Jump Financial LLC acquired a new stake in Doximity in the first quarter valued at approximately $3,125,000. Hsbc Holdings PLC raised its stake in shares of Doximity by 752.1% during the first quarter. Hsbc Holdings PLC now owns 141,191 shares of the company’s stock valued at $8,120,000 after purchasing an additional 124,622 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Doximity during the first quarter valued at approximately $665,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

Shares of DOCS stock opened at $54.20 on Monday. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 4.10 and a beta of 1.36. Doximity, Inc. has a one year low of $47.66 and a one year high of $85.21. The company’s 50-day simple moving average is $69.27 and its 200-day simple moving average is $62.74.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter in the previous year, the company earned $0.30 EPS. Doximity’s revenue was up 23.2% on a year-over-year basis. Doximity has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Activity at Doximity

In related news, Director Regina M. Benjamin sold 5,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $70.84, for a total transaction of $354,200.00. Following the transaction, the director directly owned 19,839 shares in the company, valued at $1,405,394.76. This trade represents a 20.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $66.44, for a total transaction of $132,880.00. Following the completion of the transaction, the director directly owned 19,839 shares of the company’s stock, valued at approximately $1,318,103.16. This represents a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 32,000 shares of company stock valued at $2,339,580. Corporate insiders own 31.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DOCS. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $62.00 price target on shares of Doximity in a report on Friday, October 10th. Wells Fargo & Company raised their target price on Doximity from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Evercore ISI dropped their target price on Doximity from $81.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial increased their price target on Doximity from $52.00 to $61.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Finally, Needham & Company LLC raised their price objective on Doximity from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Doximity presently has a consensus rating of “Moderate Buy” and an average target price of $69.84.

Doximity Company Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.