Doximity, Inc. $DOCS Shares Purchased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lifted its position in Doximity, Inc. (NYSE:DOCS) by 174.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,750 shares of the company’s stock after acquiring an additional 236,750 shares during the period. Doximity accounts for 1.5% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 23rd largest position. Rhenman & Partners Asset Management AB owned about 0.20% of Doximity worth $16,505,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DOCS. Royal Bank of Canada boosted its stake in shares of Doximity by 24.2% in the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock worth $6,200,000 after acquiring an additional 20,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Doximity by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after acquiring an additional 210 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Doximity by 613.7% in the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after acquiring an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Doximity by 33.3% in the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after acquiring an additional 63,873 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of Doximity in the first quarter worth approximately $283,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Doximity news, Director Kira Scherer Wampler sold 9,000 shares of Doximity stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the sale, the director owned 19,839 shares in the company, valued at $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 company’s stock in a transaction on 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 directly owned 90,706 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 16,180 shares of company stock worth $395,110. 31.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America lowered their price target on Doximity from $56.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Piper Sandler lifted their price target on Doximity from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. BMO Capital Markets reduced their price objective on Doximity from $25.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, May 14th. Leerink Partners reduced their price objective on Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $18.00 price objective (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.62.

Doximity Stock Performance

Shares of Doximity stock opened at $20.02 on Friday. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The stock has a market capitalization of $3.66 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 3.41 and a beta of 1.30. The stock’s 50 day moving average is $22.30.

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.