Hsbc Holdings PLC Boosts Stake in Doximity, Inc. $DOCS

Hsbc Holdings PLC increased its stake in Doximity, Inc. (NYSE:DOCS) by 76.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,357 shares of the company’s stock after purchasing an additional 53,888 shares during the quarter. Hsbc Holdings PLC’s holdings in Doximity were worth $5,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DOCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 last quarter. BOKF NA raised its position in Doximity by 5.3% in the 3rd quarter. BOKF NA now owns 5,356 shares of the company’s stock worth $392,000 after purchasing an additional 269 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in Doximity by 1.1% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock worth $1,361,000 after purchasing an additional 333 shares during the last quarter. Lifestyle Asset Management Inc. boosted its position in shares of Doximity by 5.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock valued at $314,000 after buying an additional 396 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after buying an additional 397 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Price Performance

DOCS stock opened at $22.03 on Friday. The business has a 50-day moving average price of $21.48 and a 200 day moving average price of $27.49. The company has a market capitalization of $4.03 billion, a P/E ratio of 22.25, a PEG ratio of 6.74 and a beta of 1.30. Doximity, Inc. has a 1-year low of $17.15 and a 1-year high of $76.51.

Analyst Ratings Changes

Several research firms have recently weighed in on DOCS. Evercore downgraded Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 target price for the company. in a research report on Wednesday, April 8th. Loop Capital set a $31.00 price target on shares of Doximity in a report on Tuesday, March 17th. Jefferies Financial Group downgraded shares of Doximity from a “buy” rating to a “hold” rating and reduced their price target for the stock from $51.00 to $19.00 in a research note on Thursday, May 14th. Citigroup downgraded shares of Doximity to an “underperform” rating in a research note on Monday, June 29th. Finally, Weiss Ratings downgraded shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Hold” and an average target price of $29.33.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 9,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 19,839 shares in the company, valued at $517,004.34. This represents a 31.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of Doximity stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of the transaction, the insider owned 90,706 shares in the company, valued at $1,851,309.46. This trade represents a 2.62% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 13,753 shares of company stock valued at $343,925 in the last ninety days. Corporate 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.