Hsbc Holdings PLC Boosts Position in Doximity, Inc. $DOCS

Hsbc Holdings PLC increased its stake in Doximity, Inc. (NYSE:DOCS) by 76.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,357 shares of the company’s stock after buying an additional 53,888 shares during the period. Hsbc Holdings PLC owned 0.07% of Doximity worth $5,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Doximity by 99.6% during the 4th quarter. Pacer Advisors Inc. now owns 436,966 shares of the company’s stock worth $19,349,000 after acquiring an additional 218,043 shares during the period. Invesco Ltd. raised its position in shares of Doximity by 4.2% in the 4th quarter. Invesco Ltd. now owns 2,426,819 shares of the company’s stock worth $107,460,000 after acquiring an additional 98,519 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Doximity by 1.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 32,060 shares of the company’s stock valued at $1,420,000 after purchasing an additional 551 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Doximity in the 4th quarter valued at approximately $222,000. Finally, NewEdge Advisors LLC boosted its position in shares of Doximity by 485.0% during the fourth quarter. NewEdge Advisors LLC now owns 5,897 shares of the company’s stock valued at $261,000 after purchasing an additional 4,889 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the transaction, the insider owned 90,706 shares in the company, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the sale, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. The trade was a 31.21% 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. Insiders have sold a total of 16,180 shares of company stock worth $395,110 in the last 90 days. Company insiders own 31.30% of the company’s stock.

Doximity Stock Performance

Shares of NYSE:DOCS opened at $20.81 on Friday. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $76.51. The company has a market capitalization of $3.81 billion, a P/E ratio of 21.02, a P/E/G ratio of 3.55 and a beta of 1.30. The firm’s fifty day simple moving average is $21.92.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of recent research reports. BTIG Research downgraded shares of Doximity from a “buy” rating to a “neutral” rating in a research report on Thursday, May 14th. Robert W. Baird reissued a “neutral” rating and set a $18.00 price target (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. The Goldman Sachs Group dropped their price objective on shares of Doximity from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Barclays reaffirmed an “equal weight” rating and set a $20.00 target price (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Doximity has an average rating of “Hold” and an average price target of $30.62.

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.