Doximity, Inc. $DOCS Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in shares of Doximity, Inc. (NYSE:DOCS) by 19.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,254 shares of the company’s stock after buying an additional 46,898 shares during the quarter. California Public Employees Retirement System’s holdings in Doximity were worth $6,646,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DOCS. Northwestern Mutual Wealth Management Co. boosted its position in Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after purchasing an additional 397 shares during the period. Toth Financial Advisory Corp increased its holdings in Doximity by 100.0% in the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $44,000 after purchasing an additional 500 shares in the last quarter. Advisory Services Network LLC purchased a new position in Doximity in the third quarter valued at about $111,000. Farther Finance Advisors LLC lifted its stake in shares of Doximity by 35.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after purchasing an additional 405 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Doximity in the fourth quarter valued at about $78,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DOCS shares. Mizuho reduced their price target on Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Leerink Partners dropped their price objective on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Needham & Company LLC reduced their target price on shares of Doximity from $55.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. KeyCorp downgraded shares of Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings downgraded shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Doximity currently has a consensus rating of “Hold” and a consensus price target of $29.33.

Doximity Stock Performance

Shares of Doximity stock opened at $20.42 on Monday. The firm has a market cap of $3.73 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 6.14 and a beta of 1.30. The firm’s 50-day simple moving average is $20.89 and its 200-day simple moving average is $25.73. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $76.51.

Insider Activity

In other Doximity news, Director Kira Scherer Wampler sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the sale, the director owned 19,839 shares in the company, valued at $517,004.34. This represents a 31.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the transaction, the insider directly owned 90,706 shares in the company, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 three months, insiders sold 13,753 shares of company stock valued at $343,925. 31.80% of the stock is owned by corporate insiders.

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.