Riverbridge Partners LLC Has $11.41 Million Position in Doximity, Inc. $DOCS

Riverbridge Partners LLC lowered its holdings in shares of Doximity, Inc. (NYSE:DOCS) by 7.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 489,742 shares of the company’s stock after selling 38,836 shares during the period. Riverbridge Partners LLC owned 0.27% of Doximity worth $11,411,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of DOCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Doximity by 0.5% during the first 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 period. BOKF NA increased its stake in shares of Doximity by 5.3% in the 3rd quarter. BOKF NA now owns 5,356 shares of the company’s stock valued at $392,000 after purchasing an additional 269 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Doximity by 1.1% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock worth $1,361,000 after acquiring an additional 333 shares in the last quarter. Lifestyle Asset Management Inc. increased its position in Doximity by 5.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock worth $314,000 after purchasing an additional 396 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Doximity by 99.5% in the 4th 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. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 sale, the insider owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company’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 sale, the director 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 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 ninety days, insiders have sold 16,180 shares of company stock valued at $395,110. Corporate insiders own 31.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DOCS. Canaccord Genuity Group cut their target price on shares of Doximity from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Barclays reissued an “equal weight” rating and issued a $20.00 price objective (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th. BMO Capital Markets decreased their price target on Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, May 14th. Leerink Partners decreased their price objective on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, Jefferies Financial Group cut Doximity from a “buy” rating to a “hold” rating and lowered their target price for the stock from $51.00 to $19.00 in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.62.

Doximity Price Performance

Shares of NYSE DOCS opened at $20.56 on Wednesday. The business has a 50-day simple moving average of $22.07. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 3.42 and a beta of 1.30. Doximity, Inc. has a twelve month low of $17.15 and a twelve month high of $76.51.

Doximity 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.