Fundsmith LLP Sells 38,462 Shares of Doximity, Inc. $DOCS

Fundsmith LLP lowered its stake in shares of Doximity, Inc. (NYSE:DOCS) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 653,324 shares of the company’s stock after selling 38,462 shares during the quarter. Fundsmith LLP’s holdings in Doximity were worth $13,550,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DOCS. Northwestern Mutual Wealth Management Co. boosted its stake in Doximity by 99.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after acquiring an additional 397 shares during the last quarter. Parallel Advisors LLC increased 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 worth $60,000 after purchasing an additional 1,347 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Doximity by 937.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock worth $66,000 after purchasing an additional 2,560 shares during the period. Farther Finance Advisors LLC lifted its stake in Doximity by 35.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock valued at $68,000 after purchasing an additional 405 shares during the last quarter. Finally, Leonteq Securities AG lifted its stake in Doximity by 65.6% in the first quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock valued at $68,000 after purchasing an additional 1,154 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Doximity stock opened at $26.74 on Monday. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The firm has a market capitalization of $4.77 billion, a P/E ratio of 31.46, a PEG ratio of 20.91 and a beta of 1.29. The business has a fifty day moving average price of $22.71 and a 200-day moving average price of $23.05.

Doximity (NYSE:DOCS) last issued its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The business had revenue of $156.62 million during the quarter. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOCS. Robert W. Baird reissued a “neutral” rating and issued a $18.00 target price (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. Evercore set a $40.00 price target on Doximity in a research report on Friday, August 7th. Leerink Partners decreased their price objective on Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 price objective on the stock. in a research note on Monday, August 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $47.00 price objective (up from $42.00) on shares of Doximity in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.43.

Insiders Place Their Bets

In related news, CAO Siddharth Sitaram sold 1,770 shares of Doximity stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $24.94, for a total transaction of $44,143.80. Following the completion of the sale, the chief accounting officer owned 97,004 shares of the company’s stock, valued at approximately $2,419,279.76. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 2,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $24.95, for a total value of $49,900.00. Following the transaction, the director owned 19,839 shares of the company’s stock, valued at approximately $494,983.05. The trade was a 9.16% 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. Insiders have sold 13,714 shares of company stock worth $437,251 in the last three months. 31.80% of the stock is currently owned by corporate insiders.

About Doximity

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.