Doximity Inc. [DOCS] Investment Appeal on the Rise

In a filing, Doximity Inc. revealed its Director Cabral Timothy S unloaded Company’s shares for reported $0.16 million on Jul 28. In the deal valued at $34.96 per share,4,714 shares were sold. As a result of this transaction, Cabral Timothy S now holds 10,258 shares worth roughly $ 0.25 million.

Then, Cabral Timothy S sold 7,500 shares, generating $262,500 in total proceeds. Upon selling the shares at $35.00, the Director now owns 4,714 shares.

Before that, Cabral Timothy S sold 10,000 shares. Doximity Inc. shares valued at $338,050 were divested by the Director at a price of $33.80 per share. As a result of the transaction, Cabral Timothy S now holds 4,714 shares, worth roughly $0.11 million.

Needham downgraded its Doximity Inc. [DOCS] rating to a Hold from a a Buy in a research note published on Tuesday.

Price Performance Review of DOCS

On Tuesday, Doximity Inc. [NYSE:DOCS] saw its stock fall -0.70% to $24.19. On the same session, the stock had its day’s lowest price of $23.75, but rose to a high of $24.68. Over the last five days, the stock has gained 2.67%. Doximity Inc. shares have fallen nearly -27.92% since the year began. Nevertheless, the stocks have fallen -26.00% over the past one year. While a 52-week high of $40.12 was reached on 02/02/23, a 52-week low of $21.85 was recorded on 08/18/23. SMA at 50 days reached $30.04, while 200 days put it at $32.54. A total of 2.39 million shares were traded, compared to the trading of 1.85 million shares in the previous session.

Levels Of Support And Resistance For DOCS Stock

The 24-hour chart illustrates a support level at 23.73, which if violated will result in even more drops to 23.28. On the upside, there is a resistance level at 24.66. A further resistance level may holdings at 25.14. The Relative Strength Index (RSI) on the 14-day chart is 36.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.31%. Stochastics %K at 87.11% indicates the stock is a selling.

How much short interest is there in Doximity Inc.?

A steep rise in short interest was recorded in Doximity Inc. stocks on Aug 14, 2023, dropping by -4.78 million shares to a total of 10.52 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 15.3 million shares. There was a decline of -45.44%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.71% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.29.

Doximity Inc. [DOCS] – Who Are The Largest Shareholders?

In filings from Morgan Stanley Investment Managem, it is revealed that the company now owns 10,615,561 shares, or roughly 8.73% of the outstanding DOCS shares. In other words, the investor’s shares have fallen by -4,272,893 from its previous 13-F filing of 14888454.0. Additionally, The Vanguard Group, Inc. increased 1.63% of its stake after which the total value it holdings stand at $366,641,073, while BlackRock Fund Advisors added 107.66% of its stake to hold $340.03 million in the firm. Over the last quarter, ClearBridge Investments LLC sold -49,363 shares of Doximity Inc., while Baillie Gifford & Co. sold 2,210,439 shares. At present, T. Rowe Price Investment Manageme is holding 5,465,876 shares valued at $195.3 million. Fidelity Management & Research Co owned 3,896,767 shares of the company at the time of its most recent 13F filing, worth $139.23 million.

According to FactSet, Doximity Inc.’s share price will average $28.58 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.89 percent from its previous closing price of $24.36. Analysts expect Doximity Inc. stock to reach the higher price of $47.00, while the lowest price estimate is $21.00. However, 17 analysts have rated DOCS stock as a Hold in their predictions for 2023.