Entropy Technologies LP Buys Shares of 45,938 Doximity, Inc. $DOCS

Entropy Technologies LP acquired a new position in Doximity, Inc. (NYSE:DOCS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 45,938 shares of the company’s stock, valued at approximately $2,034,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in Doximity by 99.5% during 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 raised its holdings in shares of Doximity by 100.0% in the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after buying an additional 500 shares during the last quarter. Farther Finance Advisors LLC raised its holdings 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 last quarter. Leonteq Securities AG purchased a new position in shares of Doximity in the fourth quarter worth $78,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Doximity in the fourth quarter worth $87,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCS has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $19.00 price target (down from $29.00) on shares of Doximity in a report on Thursday, May 14th. Jefferies Financial Group cut shares of Doximity from a “buy” rating to a “hold” rating and decreased their price objective for the company from $51.00 to $19.00 in a research note on Thursday, May 14th. Zacks Research cut shares of Doximity from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company restated an “equal weight” rating and set a $18.00 price objective (down from $32.00) on shares of Doximity in a research note on Thursday, May 14th. Finally, Leerink Partners decreased their price objective on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.62.

Doximity Stock Performance

DOCS opened at $20.62 on Tuesday. The company has a fifty day moving average price of $22.26. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $76.51. The firm has a market cap of $3.77 billion, a PE ratio of 20.82, a P/E/G ratio of 3.41 and a beta of 1.30.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 9,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the sale, the director owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. The trade was a 31.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 the business’s 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 directly owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 three months, insiders sold 16,180 shares of company stock valued at $395,110. 31.30% of the stock is owned by insiders.

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.