Prudential PLC Increases Stock Position in Doximity, Inc. $DOCS

Prudential PLC increased its position in Doximity, Inc. (NYSE:DOCS) by 78.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,138 shares of the company’s stock after purchasing an additional 41,930 shares during the quarter. Prudential PLC owned 0.05% of Doximity worth $4,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming boosted its stake in shares of Doximity by 28.8% in the fourth quarter. State of Wyoming now owns 9,224 shares of the company’s stock valued at $408,000 after purchasing an additional 2,062 shares during the period. Lido Advisors LLC purchased a new position in shares of Doximity in the fourth quarter valued at $503,000. Goldman Sachs Group Inc. boosted its stake in shares of Doximity by 102.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 603,984 shares of the company’s stock valued at $26,744,000 after purchasing an additional 305,463 shares during the period. Natixis Advisors LLC boosted its stake in shares of Doximity by 68.7% in the fourth quarter. Natixis Advisors LLC now owns 50,002 shares of the company’s stock valued at $2,214,000 after purchasing an additional 20,356 shares during the period. Finally, Fielder Capital Group LLC boosted its stake in shares of Doximity by 12.0% in the fourth quarter. Fielder Capital Group LLC now owns 5,844 shares of the company’s stock valued at $259,000 after purchasing an additional 628 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOCS has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on shares of Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $18.00 target price (down from $32.00) on shares of Doximity in a research note on Thursday, May 14th. Zacks Research downgraded shares of Doximity from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 2nd. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Jefferies Financial Group cut shares of Doximity from a “buy” rating to a “hold” rating and cut their price target for the company from $51.00 to $19.00 in a report 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 assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.62.

Insider Buying and Selling at Doximity

In related news, insider Siddharth Sitaram sold 2,309 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $25.77, for a total value of $59,502.93. Following the sale, the insider directly owned 89,396 shares of the company’s stock, valued at $2,303,734.92. This represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 on 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 directly owned 19,839 shares in the company, valued at $517,004.34. This represents a 31.21% 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 sold 16,055 shares of company stock worth $404,061 over the last ninety days. 31.30% of the stock is currently owned by corporate insiders.

Doximity Stock Down 0.7%

DOCS opened at $20.56 on Friday. The firm has a market capitalization of $3.76 billion, a PE ratio of 20.77, a PEG ratio of 3.50 and a beta of 1.30. The company has a fifty day moving average of $22.64. Doximity, Inc. has a 12-month low of $17.15 and a 12-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.