Baillie Gifford & Co. Trims Holdings in Doximity, Inc. $DOCS

Baillie Gifford & Co. lowered its holdings in Doximity, Inc. (NASDAQ:DOCS) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,849,762 shares of the company’s stock after selling 84,269 shares during the quarter. Baillie Gifford & Co.’s holdings in Doximity were worth $281,610,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DOCS. UniSuper Management Pty Ltd raised its holdings in shares of Doximity by 24.1% during the third quarter. UniSuper Management Pty Ltd now owns 71,133 shares of the company’s stock valued at $5,203,000 after acquiring an additional 13,812 shares in the last quarter. Aubrey Capital Management Ltd bought a new stake in Doximity in the third quarter valued at $4,572,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Doximity by 12.1% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 56,463 shares of the company’s stock valued at $4,130,000 after purchasing an additional 6,083 shares during the period. Root Financial Partners LLC bought a new position in Doximity in the 3rd quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Doximity by 35.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,518 shares of the company’s stock worth $965,000 after purchasing an additional 3,516 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $66.44, for a total value of $132,880.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at approximately $1,318,103.16. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 31.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DOCS shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Doximity in a research note on Monday, December 29th. Barclays initiated coverage on shares of Doximity in a report on Monday, December 8th. They issued an “overweight” rating and a $63.00 price objective for the company. Wells Fargo & Company raised Doximity from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $65.00 to $55.00 in a research report on Tuesday. Royal Bank Of Canada started coverage on Doximity in a research report on Thursday, January 8th. They issued an “outperform” rating and a $59.00 target price for the company. Finally, Evercore ISI restated an “outperform” rating on shares of Doximity in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Doximity currently has a consensus rating of “Moderate Buy” and an average price target of $65.74.

Doximity Stock Performance

Shares of DOCS opened at $40.62 on Friday. Doximity, Inc. has a fifty-two week low of $39.50 and a fifty-two week high of $85.21. The firm’s 50-day simple moving average is $45.31 and its two-hundred day simple moving average is $58.43. The stock has a market cap of $7.65 billion, a PE ratio of 40.62, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The business’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. Equities research analysts predict that Doximity, Inc. will post 0.99 EPS for the current year.

About Doximity

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.