Lazard Asset Management LLC Sells 155,753 Shares of Doximity, Inc. $DOCS

Lazard Asset Management LLC decreased its stake in shares of Doximity, Inc. (NYSE:DOCS) by 51.9% in the first quarter, Holdings Channel reports. The institutional investor owned 144,369 shares of the company’s stock after selling 155,753 shares during the quarter. Lazard Asset Management LLC’s holdings in Doximity were worth $3,364,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DOCS. Northwestern Mutual Wealth Management Co. grew its stake in shares of Doximity by 99.5% in 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 increased its holdings 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 valued at $44,000 after acquiring an additional 500 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Doximity by 111.0% in the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Doximity by 35.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after purchasing an additional 405 shares during the last quarter. Finally, Leonteq Securities AG boosted its stake in Doximity by 65.6% in the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after purchasing an additional 1,154 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays reissued an “equal weight” rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. 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 report on Thursday, May 14th. KeyCorp downgraded shares of Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Leerink Partners cut their price target on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Finally, Zacks Research raised shares of Doximity from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Doximity currently has an average rating of “Hold” and an average price target of $29.33.

Doximity Stock Performance

NYSE DOCS opened at $20.95 on Friday. 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 of $21.06 and a 200 day moving average of $25.03. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 7.59 and a beta of 1.30.

Insider Buying and Selling

In other news, insider Siddharth Sitaram sold 2,444 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the completion of the transaction, the insider directly owned 90,706 shares of the company’s stock, valued at $1,851,309.46. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 stock in a transaction that occurred 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 transaction, the director owned 19,839 shares in the company, valued at approximately $517,004.34. This trade represents a 31.21% 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. Insiders sold 13,753 shares of company stock valued at $343,925 over the last quarter. Company insiders own 31.80% of the company’s stock.

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.