Renaissance Technologies LLC Has $71.29 Million Position in Doximity, Inc. $DOCS

Renaissance Technologies LLC boosted its stake in shares of Doximity, Inc. (NYSE:DOCS) by 29.4% during the first quarter, Holdings Channel.com reports. The fund owned 3,059,749 shares of the company’s stock after acquiring an additional 694,300 shares during the period. Renaissance Technologies LLC’s holdings in Doximity were worth $71,292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCS. Vanguard Group Inc. grew 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 purchasing an additional 518,916 shares in the last quarter. UBS Group AG boosted its stake in Doximity by 26.5% in the fourth quarter. UBS Group AG now owns 680,260 shares of the company’s stock valued at $30,122,000 after buying an additional 142,408 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Doximity by 325,436.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock worth $57,515,000 after acquiring an additional 1,298,492 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Doximity by 108.5% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 173,621 shares of the company’s stock worth $7,688,000 after acquiring an additional 90,341 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB boosted its stake in shares of Doximity by 174.1% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 372,750 shares of the company’s stock valued at $16,505,000 after purchasing an additional 236,750 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOCS. Mizuho decreased their price target on shares of Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Barclays reissued an “equal weight” rating and issued a $20.00 price objective (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th. Evercore cut shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 target price on the stock. in a research note on Wednesday, April 8th. KeyCorp downgraded shares of Doximity from an “overweight” rating to a “sector weight” rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. dropped their price target on Doximity from $33.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.33.

Insider Activity at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 on Thursday, May 7th. The shares were 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 $517,004.34. The trade was a 31.21% 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. Over the last quarter, insiders have sold 13,753 shares of company stock worth $343,925. 31.80% of the stock is owned by corporate insiders.

Doximity Price Performance

Doximity stock opened at $20.42 on Monday. The business has a 50 day moving average of $20.89 and a 200-day moving average of $25.73. 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 $3.73 billion, a P/E ratio of 20.63, a P/E/G ratio of 6.14 and a beta of 1.30.

Doximity 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.