Swedbank AB Acquires 929,576 Shares of Doximity, Inc. $DOCS

Swedbank AB increased its holdings in Doximity, Inc. (NYSE:DOCS) by 1,147.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,010,559 shares of the company’s stock after purchasing an additional 929,576 shares during the period. Swedbank AB owned approximately 0.55% of Doximity worth $23,546,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DOCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Doximity by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after buying an additional 210 shares during the last quarter. BOKF NA increased its holdings in shares of Doximity by 5.3% during the 3rd quarter. BOKF NA now owns 5,356 shares of the company’s stock valued at $392,000 after acquiring an additional 269 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Doximity by 1.1% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock valued at $1,361,000 after acquiring an additional 333 shares in the last quarter. Lifestyle Asset Management Inc. raised its stake in shares of Doximity by 5.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock valued at $314,000 after acquiring an additional 396 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised 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 in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kira Scherer Wampler sold 9,000 shares of Doximity 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 directly owned 19,839 shares of the company’s stock, valued at $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the insider owned 90,706 shares in the company, valued at $1,851,309.46. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders sold 13,753 shares of company stock valued at $343,925. 31.30% of the stock is owned by corporate insiders.

Doximity Price Performance

NYSE:DOCS opened at $22.03 on Friday. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The company has a fifty day moving average price of $21.48 and a 200 day moving average price of $27.49. The stock has a market cap of $4.03 billion, a P/E ratio of 22.25, a PEG ratio of 6.74 and a beta of 1.30.

Analyst Ratings Changes

A number of brokerages have issued reports on DOCS. BTIG Research cut Doximity from a “buy” rating to a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $18.00 price target (down from $32.00) on shares of Doximity in a research report on Thursday, May 14th. Leerink Partners reduced 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. Freedom Capital raised shares of Doximity to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Doximity has an average rating of “Hold” and an average price target of $29.33.

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.