Clearbridge Investments LLC Has $224.36 Million Stock Holdings in Doximity, Inc. $DOCS

Clearbridge Investments LLC cut its stake in shares of Doximity, Inc. (NYSE:DOCS) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,066,841 shares of the company’s stock after selling 61,931 shares during the period. Clearbridge Investments LLC owned approximately 2.69% of Doximity worth $224,360,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DOCS. Royal Bank of Canada raised its position in Doximity by 24.2% during the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after buying an additional 20,847 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after buying an additional 210 shares during the period. NewEdge Advisors LLC raised its position in Doximity by 613.7% during the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after buying an additional 5,437 shares during the period. Goldman Sachs Group Inc. raised its position in Doximity by 33.3% during the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after buying an additional 63,873 shares during the period. Finally, Focus Partners Wealth acquired a new position in Doximity during the first quarter valued at $283,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kira Scherer Wampler sold 9,000 shares of the company’s 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 completion of the sale, the director 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 legal 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 2,309 shares of the stock in a transaction that occurred 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 owned 89,396 shares of the company’s stock, valued at approximately $2,303,734.92. The trade was a 2.52% decrease in their position. The SEC filing for this sale provides additional information. 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 have sold 16,055 shares of company stock valued at $404,061. 31.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DOCS has been the topic of several research reports. Truist Financial reiterated a “hold” rating and issued a $19.00 price objective (down from $29.00) on shares of Doximity in a research note on Thursday, May 14th. Loop Capital set a $31.00 target price on shares of Doximity in a research report on Tuesday, March 17th. Freedom Capital upgraded shares of Doximity to a “strong-buy” rating in a research report on Tuesday, March 17th. Robert W. Baird reiterated a “neutral” rating and issued a $18.00 target price (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. Finally, Evercore downgraded shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 target price for the company. in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Doximity presently has a consensus rating of “Hold” and an average price target of $30.62.

Doximity Stock Performance

Shares of DOCS stock opened at $20.56 on Monday. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The business has a 50-day moving average price of $22.64. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 3.50 and a beta of 1.30.

Doximity Company 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.