Doximity (NYSE:DOCS) Insider Sells $49,882.04 in Stock

Doximity, Inc. (NYSE:DOCS) insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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.

Siddharth Sitaram also recently made the following trade(s):

• On Monday, May 11th, Siddharth Sitaram sold 2,309 shares of Doximity stock. The stock was sold at an average price of $25.77, for a total transaction of $59,502.93.
• On Friday, April 10th, Siddharth Sitaram sold 2,427 shares of Doximity stock. The stock was sold at an average price of $21.09, for a total transaction of $51,185.43.

Doximity Stock Performance

DOCS opened at $20.02 on Friday. The business’s 50 day simple moving average is $22.30. The firm has a market cap of $3.66 billion, a P/E ratio of 20.22, a PEG ratio of 3.41 and a beta of 1.30. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $76.51.

Analysts Set New Price Targets

DOCS has been the subject of a number of analyst reports. Jefferies Financial Group cut Doximity from a “buy” rating to a “hold” rating and decreased their price target for the stock from $51.00 to $19.00 in a report on Thursday, May 14th. Evercore cut Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price target for the company. in a report on Wednesday, April 8th. Robert W. Baird restated a “neutral” rating and issued a $18.00 price target (down from $40.00) on shares of Doximity in a report on Thursday, May 14th. Needham & Company LLC decreased their price target on Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, BMO Capital Markets decreased their price target on Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Doximity currently has an average rating of “Hold” and a consensus price target of $30.62.

Hedge Funds Weigh In On Doximity

Several institutional investors and hedge funds have recently made changes to their positions in DOCS. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Doximity by 99.5% during the 4th 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 last quarter. Toth Financial Advisory Corp boosted its stake in shares of Doximity by 100.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $44,000 after buying an additional 500 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Doximity by 111.0% during the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock valued at $60,000 after buying an additional 1,347 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Doximity by 937.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock valued at $66,000 after buying an additional 2,560 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Doximity by 35.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock valued at $68,000 after buying an additional 405 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.