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

Fifth Third Bancorp boosted its holdings in Doximity, Inc. (NYSE:DOCS) by 1,940.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,703 shares of the company’s stock after buying an additional 42,512 shares during the period. Fifth Third Bancorp’s holdings in Doximity were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares in the last quarter. Toth Financial Advisory Corp grew its position in shares of Doximity by 100.0% in the fourth 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. Farther Finance Advisors LLC raised its stake in shares of Doximity by 35.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock valued at $68,000 after purchasing an additional 405 shares during the period. Leonteq Securities AG raised its stake in shares of Doximity by 65.6% during the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock valued at $68,000 after purchasing an additional 1,154 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Doximity during the 4th quarter valued at $87,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOCS has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Needham & Company LLC reduced their target price on Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 14th. JPMorgan Chase & Co. decreased their price target on Doximity from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, BMO Capital Markets cut their price objective on shares of Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.33.

Doximity Stock Performance

Doximity stock opened at $20.42 on Friday. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The stock has a market cap of $3.73 billion, a P/E ratio of 20.63, a PEG ratio of 6.14 and a beta of 1.30. The firm’s fifty day moving average price is $20.89 and its 200-day moving average price is $25.87.

Insider Activity

In other Doximity news, Director Kira Scherer Wampler sold 9,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the transaction, the director directly owned 19,839 shares in the company, valued at $517,004.34. This represents a 31.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 the firm’s stock in a transaction dated 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 sale, the insider directly owned 90,706 shares in the company, valued at approximately $1,851,309.46. The trade was 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 90 days, insiders have sold 13,753 shares of company stock valued at $343,925. 31.80% of the stock is owned by company insiders.

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.