Weiss Asset Management LP Buys Shares of 25,204 Doximity, Inc. $DOCS

Weiss Asset Management LP purchased a new stake in Doximity, Inc. (NYSE:DOCS) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 25,204 shares of the company’s stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOCS. Northwestern Mutual Wealth Management Co. increased its stake in Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of Doximity by 100.0% in the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $44,000 after purchasing an additional 500 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Doximity by 111.0% during the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the period. Farther Finance Advisors LLC increased its position 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 worth $68,000 after purchasing an additional 405 shares during the last quarter. Finally, Leonteq Securities AG increased its position in shares of Doximity by 65.6% during the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after purchasing an additional 1,154 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America restated an “underperform” rating and issued a $20.00 price objective (down from $38.00) on shares of Doximity in a report on Monday, June 29th. Zacks Research raised shares of Doximity from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Robert W. Baird reiterated a “neutral” rating and set a $18.00 price target (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. Mizuho reduced their price target on shares of Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Truist Financial restated a “hold” rating and issued a $19.00 price objective (down from $29.00) on shares of Doximity in a report on Thursday, May 14th. 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 company. Based on data from MarketBeat.com, Doximity has an average rating of “Hold” and an average target price of $29.33.

Insider Activity

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 value of $49,882.04. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through 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 business’s stock in a transaction dated Thursday, May 7th. The stock was 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 13,753 shares of company stock valued at $343,925. 31.80% of the stock is currently owned by corporate insiders.

Doximity Trading Up 2.5%

DOCS stock opened at $20.93 on Tuesday. The business’s fifty day moving average price is $20.92 and its 200 day moving average price is $25.55. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51. The company has a market capitalization of $3.83 billion, a PE ratio of 21.15, a P/E/G ratio of 6.14 and a beta of 1.30.

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.