Carmignac Gestion Grows Holdings in Doximity, Inc. $DOCS

Carmignac Gestion increased its stake in shares of Doximity, Inc. (NYSE:DOCS) by 127.8% in the first quarter, HoldingsChannel.com reports. The firm owned 4,311,997 shares of the company’s stock after buying an additional 2,418,971 shares during the period. Doximity accounts for approximately 1.5% of Carmignac Gestion’s portfolio, making the stock its 18th largest holding. Carmignac Gestion’s holdings in Doximity were worth $100,480,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Doximity by 111.0% during the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares in the last quarter. Essential Partners LLC grew its stake in shares of Doximity by 34,438.5% in the first quarter. Essential Partners LLC now owns 8,980 shares of the company’s stock valued at $209,000 after buying an additional 8,954 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Doximity by 31.8% in the first quarter. Bank of America Corp DE now owns 1,142,530 shares of the company’s stock valued at $26,621,000 after buying an additional 275,650 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Doximity by 110.8% in the 1st quarter. Edgestream Partners L.P. now owns 252,555 shares of the company’s stock valued at $5,885,000 after buying an additional 132,733 shares during the period. Finally, Amundi lifted its stake in Doximity by 9,956.5% during the 1st quarter. Amundi now owns 569,095 shares of the company’s stock worth $13,260,000 after acquiring an additional 563,436 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

DOCS has been the subject of a number of research analyst reports. Zacks Research upgraded Doximity from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Canaccord Genuity Group reduced their price target on shares of Doximity from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Needham & Company LLC lowered their price objective on shares of Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. BTIG Research lowered shares of Doximity from a “buy” rating to a “neutral” rating in a research note on Thursday, May 14th. Finally, Evercore cut shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price objective for the company. in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Hold” and an average price target of $29.33.

Insiders Place Their Bets

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of Doximity stock in a transaction dated 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 sale, the insider directly owned 90,706 shares of the company’s stock, valued at $1,851,309.46. The trade was a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 company’s 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 of the company’s stock, valued at approximately $517,004.34. This represents a 31.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 13,753 shares of company stock worth $343,925. 31.80% of the stock is owned by insiders.

Doximity Trading Up 0.2%

Doximity stock opened at $20.95 on Monday. The company has a fifty day simple moving average of $21.06 and a 200-day simple moving average of $24.90. The stock has a market cap of $3.83 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 7.59 and a beta of 1.29. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51.

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.