Doximity, Inc. (NYSE:DOCS) insiders placed bullish bets worth US$585k in the last 12 months

Usually, when one insider buys stock, it might not be a monumental event. But when multiple insiders are buying like they did in the case of Doximity, Inc. (NYSE:DOCS), that sends out a positive message to the company's shareholders.

While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.

See our latest analysis for Doximity

Doximity Insider Transactions Over The Last Year

The Chief Revenue Officer Paul Jorgensen made the biggest insider purchase in the last 12 months. That single transaction was for US$483k worth of shares at a price of US$32.19 each. That means that an insider was happy to buy shares at around the current price of US$32.99. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for Doximity share holders is that insiders were buying at near the current price.

While Doximity insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Insider Ownership

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Doximity insiders own 27% of the company, currently worth about US$1.7b based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Does This Data Suggest About Doximity Insiders?

The fact that there have been no Doximity insider transactions recently certainly doesn't bother us. On a brighter note, the transactions over the last year are encouraging. Judging from their transactions, and high insider ownership, Doximity insiders feel good about the company's future. Of course, the future is what matters most. So if you are interested in Doximity, you should check out this free report on analyst forecasts for the company.

Of course Doximity may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.