Doximity, Inc. $DOCS Shares Sold by Jefferies Financial Group Inc.

by · The Cerbat Gem

Jefferies Financial Group Inc. lessened its holdings in shares of Doximity, Inc. (NYSE:DOCS – Free Report) by 63.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,100 shares of the company’s stock after selling 29,558 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Doximity were worth $757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOCS. Royal Bank of Canada boosted its stake in Doximity by 24.2% during the 1st quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock worth $6,200,000 after purchasing an additional 20,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 worth $2,262,000 after purchasing an additional 210 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Doximity by 613.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after purchasing an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Doximity by 33.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after purchasing an additional 63,873 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Doximity during the 1st quarter worth $283,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOCS. Needham & Company LLC lowered their target price on shares of Doximity from $55.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Piper Sandler lifted their target price on shares of Doximity from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Mizuho reduced their price target on Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Finally, BMO Capital Markets reduced their price target on Doximity from $25.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.62.

Get Our Latest Stock Report on DOCS

Insider Buying and Selling at Doximity

In other news, insider Siddharth Sitaram sold 2,427 shares of Doximity stock in a transaction on Friday, April 10th. The stock was sold at an average price of $21.09, for a total transaction of $51,185.43. Following the transaction, the insider owned 86,705 shares in the company, valued at $1,828,608.45. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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. Also, Director Kira Scherer Wampler sold 9,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 18,055 shares of company stock worth $456,061. Insiders own 31.30% of the company’s stock.

Doximity Stock Performance

NYSE DOCS opened at $21.35 on Friday. Doximity, Inc. has a 52 week low of $17.15 and a 52 week high of $76.51. The business’s fifty day moving average is $22.96. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.74 and a beta of 1.36.

Doximity announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Doximity Company Profile

(Free Report)

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.

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