California Public Employees Retirement System Raises Stock Holdings in Doximity, Inc. $DOCS

California Public Employees Retirement System lifted its stake in shares of Doximity, Inc. (NYSE:DOCS) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 285,254 shares of the company’s stock after acquiring an additional 46,898 shares during the period. California Public Employees Retirement System owned 0.15% of Doximity worth $6,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in Doximity by 99.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Doximity by 100.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after purchasing an additional 500 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 buying an additional 405 shares in the last quarter. Leonteq Securities AG grew its holdings in shares of Doximity by 65.6% during the first quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after buying an additional 1,154 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Doximity in the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of DOCS stock opened at $20.42 on Monday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 6.14 and a beta of 1.30. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51. The company has a 50 day moving average price of $20.89 and a 200 day moving average price of $25.73.

Insider Buying and Selling at Doximity

In other news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.41, for a total transaction of $49,882.04. Following the completion of the sale, the insider directly owned 90,706 shares in the company, valued at $1,851,309.46. This represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,753 shares of company stock valued at $343,925 over the last three months. Corporate insiders own 31.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOCS. Leerink Partners reduced 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. The Goldman Sachs Group cut their price target on Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Wells Fargo & Company reissued an “equal weight” rating and set a $18.00 price target (down from $32.00) on shares of Doximity in a research note on Thursday, May 14th. BMO Capital Markets decreased their price objective on Doximity from $25.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, May 14th. Finally, Jefferies Financial Group downgraded Doximity from a “buy” rating to a “hold” rating and lowered their price objective for the company from $51.00 to $19.00 in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.33.

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.