Siddharth Sitaram Sells 2,444 Shares of Doximity (NYSE:DOCS) Stock

Doximity, Inc. (NYSE:DOCS) insider Siddharth Sitaram sold 2,444 shares of Doximity 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 sale, the insider owned 90,706 shares in the company, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.

Siddharth Sitaram also recently made the following trade(s):

• On Monday, May 11th, Siddharth Sitaram sold 2,309 shares of Doximity stock. The shares were sold at an average price of $25.77, for a total transaction of $59,502.93.
• On Friday, April 10th, Siddharth Sitaram sold 2,427 shares of Doximity stock. The shares were sold at an average price of $21.09, for a total transaction of $51,185.43.

Doximity Trading Down 1.2%

Shares of NYSE DOCS opened at $20.00 on Friday. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The company’s 50-day moving average is $22.36. The company has a market capitalization of $3.66 billion, a PE ratio of 20.21, a P/E/G ratio of 3.44 and a beta of 1.30.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial restated a “hold” rating and set 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 price objective on shares of Doximity in a research note on Tuesday, March 17th. Freedom Capital upgraded shares of Doximity to a “strong-buy” rating in a research note on Tuesday, March 17th. Evercore cut shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Doximity from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Two 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.62.

Institutional Investors Weigh In On Doximity

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Doximity by 4.1% in the fourth 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 in the last quarter. William Blair Investment Management LLC raised its position in Doximity by 11.7% in the third quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock worth $426,404,000 after acquiring an additional 609,775 shares in the last quarter. Capital World Investors raised its position in Doximity by 5.1% in the fourth quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock worth $250,398,000 after acquiring an additional 273,444 shares in the last quarter. Franklin Resources Inc. raised its position in Doximity by 6.2% in the third quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock worth $245,601,000 after acquiring an additional 194,912 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Doximity by 29.4% in the first quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock worth $71,292,000 after acquiring an additional 694,300 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

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.