Edgestream Partners L.P. Buys 132,733 Shares of Doximity, Inc. $DOCS

Edgestream Partners L.P. lifted its stake in Doximity, Inc. (NYSE:DOCS) by 110.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,555 shares of the company’s stock after purchasing an additional 132,733 shares during the quarter. Edgestream Partners L.P.’s holdings in Doximity were worth $5,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of DOCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after buying an additional 210 shares during the last quarter. BOKF NA raised its holdings in Doximity by 5.3% in the 3rd quarter. BOKF NA now owns 5,356 shares of the company’s stock worth $392,000 after acquiring an additional 269 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Doximity by 1.1% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock valued at $1,361,000 after acquiring an additional 333 shares in the last quarter. Lifestyle Asset Management Inc. lifted its position in Doximity by 5.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock valued at $314,000 after acquiring an additional 396 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Doximity by 99.5% during 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. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the transaction, the insider owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 completion of the transaction, the director directly owned 19,839 shares in the company, valued at $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 13,753 shares of company stock worth $343,925. Company insiders own 31.80% of the company’s stock.

Doximity Trading Down 1.8%

NYSE:DOCS opened at $21.25 on Friday. The company has a market cap of $3.89 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 7.85 and a beta of 1.30. The company has a 50 day simple moving average of $21.04 and a two-hundred day simple moving average of $25.06. Doximity, Inc. has a 12 month low of $17.15 and a 12 month high of $76.51.

Analysts Set New Price Targets

DOCS has been the subject of a number of research analyst reports. BTIG Research lowered Doximity from a “buy” rating to a “neutral” rating in a report on Thursday, May 14th. Robert W. Baird reaffirmed a “neutral” rating and set a $18.00 price target (down from $40.00) on shares of Doximity in a report on Thursday, May 14th. Jefferies Financial Group cut Doximity from a “buy” rating to a “hold” rating and dropped their price objective for the company from $51.00 to $19.00 in a research report on Thursday, May 14th. The Goldman Sachs Group reduced their price objective on Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, Morgan Stanley decreased their target price on Doximity from $49.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Two 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 assigned a Sell rating to the company. According to MarketBeat, Doximity has a consensus rating of “Hold” and an average target price of $29.33.

Doximity Company 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.