Hsbc Holdings PLC Purchases 53,888 Shares of Doximity, Inc. $DOCS

Hsbc Holdings PLC lifted its position in Doximity, Inc. (NYSE:DOCS) by 76.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,357 shares of the company’s stock after buying an additional 53,888 shares during the period. Hsbc Holdings PLC’s holdings in Doximity were worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of DOCS. Royal Bank of Canada lifted its holdings 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. grew its stake 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 purchasing an additional 210 shares during the period. NewEdge Advisors LLC increased 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 purchasing an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. increased 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 purchasing an additional 63,873 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Doximity in the 1st quarter worth approximately $283,000. Institutional investors own 87.19% of the company’s stock.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 9,000 shares of Doximity stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the sale, the director owned 19,839 shares in the company, valued at $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $49,882.04. Following the completion of the transaction, the insider directly owned 90,706 shares in the company, valued at $1,851,309.46. This trade represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. 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 sold a total of 16,180 shares of company stock valued at $395,110 over the last 90 days. 31.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Evercore cut shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price target on the stock. in a research note on Wednesday, April 8th. Jefferies Financial Group lowered Doximity from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $51.00 to $19.00 in a research note on Thursday, May 14th. BTIG Research cut Doximity from a “buy” rating to a “neutral” rating in a report on Thursday, May 14th. Morgan Stanley lowered their target price on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $44.00 price target on shares of Doximity in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Doximity presently has a consensus rating of “Hold” and a consensus price target of $30.62.

Doximity Stock Performance

NYSE DOCS opened at $20.81 on Friday. Doximity, Inc. has a twelve month low of $17.15 and a twelve month high of $76.51. The stock has a 50-day simple moving average of $21.92. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

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.