Hsbc Holdings PLC Cuts Stock Position in Doximity, Inc. $DOCS

Hsbc Holdings PLC decreased its holdings in shares of Doximity, Inc. (NYSE:DOCS) by 75.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,778 shares of the company’s stock after selling 93,579 shares during the quarter. Hsbc Holdings PLC’s holdings in Doximity were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DOCS. Northwestern Mutual Wealth Management Co. increased its holdings in 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 purchasing an additional 397 shares in the last quarter. Toth Financial Advisory Corp lifted its stake 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 purchasing an additional 500 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Doximity during the third quarter worth about $111,000. Farther Finance Advisors LLC boosted its position in shares of Doximity by 35.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after buying an additional 405 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of Doximity in the fourth quarter valued at about $78,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DOCS shares. Barclays reiterated an “equal weight” rating and set a $20.00 target price (down from $38.00) on shares of Doximity in a report on Thursday, May 14th. The Goldman Sachs Group decreased their price target on Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. BTIG Research cut shares of Doximity from a “buy” rating to a “neutral” rating in a research report on Thursday, May 14th. Truist Financial restated a “hold” rating and issued a $19.00 target price (down from $29.00) on shares of Doximity in a research note on Thursday, May 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Doximity from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Doximity presently has an average rating of “Hold” and a consensus target price of $29.33.

Doximity Stock Performance

Shares of DOCS opened at $21.25 on Friday. The company has a market capitalization of $3.89 billion, a P/E ratio of 21.46, a P/E/G ratio of 7.85 and a beta of 1.30. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The stock has a 50-day moving average price of $21.04 and a 200 day moving average price of $25.06.

Insider Buying and Selling

In other news, Director Kira Scherer Wampler sold 9,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. This represents a 31.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Doximity stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.41, for a total transaction 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 trade represents a 2.62% decrease in their position. 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 ninety days, insiders sold 13,753 shares of company stock worth $343,925. 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.