Y Intercept Hong Kong Ltd Invests $9 Million in Doximity, Inc. $DOCS

Y Intercept Hong Kong Ltd bought a new position in shares of Doximity, Inc. (NYSE:DOCS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 203,182 shares of the company’s stock, valued at approximately $8,997,000. Y Intercept Hong Kong Ltd owned about 0.11% of Doximity as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOCS. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 raised its position in shares of Doximity by 100.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after acquiring an additional 500 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Doximity by 35.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after acquiring an additional 405 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Doximity during the fourth quarter worth $78,000. Finally, Dara Capital US Inc. bought a new stake in shares of Doximity during the fourth quarter worth $91,000. Institutional investors own 87.19% of the company’s stock.

Insider Transactions at Doximity

In other Doximity news, 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 value of $234,540.00. Following the completion of the transaction, the director directly owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The transaction was disclosed in a legal 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. Also, insider Siddharth Sitaram sold 2,444 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,851,309.46. The trade was a 2.62% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 16,180 shares of company stock valued at $395,110. Insiders own 31.30% of the company’s stock.

Doximity Stock Up 0.0%

NYSE DOCS opened at $20.02 on Friday. The firm has a 50-day moving average of $22.30. The company has a market capitalization 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 12 month low of $17.15 and a 12 month high of $76.51.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DOCS. Weiss Ratings downgraded Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. dropped their price objective on Doximity from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Needham & Company LLC dropped their price objective on Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $18.00 price objective (down from $32.00) on shares of Doximity in a report on Thursday, May 14th. Finally, Evercore downgraded Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price objective for the company. in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.62.

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.