Fifth Third Bancorp Buys 42,512 Shares of Doximity, Inc. $DOCS

Fifth Third Bancorp grew its stake in shares of Doximity, Inc. (NYSE:DOCS) by 1,940.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,703 shares of the company’s stock after buying an additional 42,512 shares during the quarter. Fifth Third Bancorp’s holdings in Doximity were worth $1,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DOCS. Vanguard Group Inc. lifted its holdings in shares of Doximity by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock worth $588,281,000 after acquiring an additional 518,916 shares during the last quarter. Capital World Investors increased its stake in Doximity by 5.1% in the fourth quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock valued at $250,398,000 after acquiring an additional 273,444 shares during the last quarter. Invesco Ltd. increased its stake in Doximity by 4.2% in the fourth quarter. Invesco Ltd. now owns 2,426,819 shares of the company’s stock valued at $107,460,000 after acquiring an additional 98,519 shares during the last quarter. Renaissance Technologies LLC raised its position in Doximity by 8.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,365,449 shares of the company’s stock valued at $104,742,000 after purchasing an additional 185,247 shares in the last quarter. Finally, Carmignac Gestion raised its position in Doximity by 355.9% during the fourth quarter. Carmignac Gestion now owns 1,893,026 shares of the company’s stock valued at $83,831,000 after purchasing an additional 1,477,798 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Stock Down 0.1%

Shares of NYSE:DOCS opened at $20.42 on Friday. The stock has a market cap of $3.73 billion, a PE ratio of 20.63, a PEG ratio of 6.14 and a beta of 1.30. The company’s fifty day moving average is $20.89 and its 200 day moving average is $25.87. Doximity, Inc. has a 52 week low of $17.15 and a 52 week high of $76.51.

Analyst Upgrades and Downgrades

DOCS has been the subject of several research analyst reports. Jefferies Financial Group lowered Doximity from a “buy” rating to a “hold” rating and dropped their price target for the stock from $51.00 to $19.00 in a research note on Thursday, May 14th. The Goldman Sachs Group reduced their price objective on Doximity from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Weiss Ratings cut Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Zacks Research upgraded Doximity from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, KeyCorp lowered Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Doximity presently has a consensus rating of “Hold” and a consensus target price of $29.33.

Insider Activity

In other news, Director Kira Scherer Wampler sold 9,000 shares of the firm’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 transaction, the director directly owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. The sale was disclosed in a 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 Doximity stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of 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. 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. Over the last 90 days, insiders have sold 13,753 shares of company stock valued at $343,925. 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.