Doximity, Inc. $DOCS Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its holdings in Doximity, Inc. (NYSE:DOCS) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,711,340 shares of the company’s stock after selling 138,422 shares during the quarter. Baillie Gifford & Co. owned 1.97% of Doximity worth $164,338,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Doximity during the 3rd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Doximity by 59.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 179 shares during the period. Toth Financial Advisory Corp lifted its position in shares of Doximity by 150.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 300 shares during the period. Atlantic Union Bankshares Corp lifted its position in shares of Doximity by 136.9% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock valued at $45,000 after acquiring an additional 356 shares during the period. Finally, First Horizon Corp acquired a new stake in shares of Doximity during the 3rd quarter valued at approximately $58,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

NYSE DOCS opened at $21.11 on Monday. Doximity, Inc. has a 12 month low of $20.55 and a 12 month high of $76.51. The company’s 50-day moving average is $25.41. The firm has a market cap of $3.90 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.18 and a beta of 1.42.

Doximity (NYSE:DOCS) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Doximity had a return on equity of 23.84% and a net margin of 37.54%.The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share.

Doximity announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DOCS. Evercore downgraded shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price target for the company. in a research report on Wednesday, April 8th. Freedom Capital raised Doximity to a “strong-buy” rating in a research note on Tuesday, March 17th. Wells Fargo & Company cut their price target on Doximity from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Doximity in a research note on Monday, December 29th. Finally, BMO Capital Markets set a $25.00 price target on Doximity in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Doximity presently has an average rating of “Moderate Buy” and a consensus price target of $43.95.

Insiders Place Their Bets

In related news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. Following the completion of the sale, the director owned 19,839 shares of the company’s stock, valued at approximately $515,814. This represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Siddharth Sitaram sold 2,319 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.37, for a total transaction of $58,833.03. Following the sale, the insider directly owned 84,132 shares of the company’s stock, valued at approximately $2,134,428.84. This trade represents a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 6,601 shares of company stock valued at $174,455. Insiders own 31.30% of the company’s stock.

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.