Pacer Advisors Inc. Buys 331,910 Shares of Doximity, Inc. (NASDAQ:DOCS)

Pacer Advisors Inc. increased its position in Doximity, Inc. (NASDAQ:DOCS) by 111.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 629,042 shares of the company’s stock after purchasing an additional 331,910 shares during the period. Pacer Advisors Inc.’s holdings in Doximity were worth $36,503,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its position in shares of Doximity by 3.9% during the 4th quarter. Corient Private Wealth LLC now owns 8,887 shares of the company’s stock valued at $474,000 after acquiring an additional 334 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Doximity by 31.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 40,609 shares of the company’s stock valued at $2,169,000 after purchasing an additional 9,618 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Doximity by 72.8% in the 4th quarter. Sei Investments Co. now owns 274,011 shares of the company’s stock worth $14,629,000 after buying an additional 115,403 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Doximity during the 4th quarter valued at about $2,258,000. Finally, LPL Financial LLC raised its position in shares of Doximity by 5.5% during the 4th quarter. LPL Financial LLC now owns 75,757 shares of the company’s stock valued at $4,045,000 after buying an additional 3,967 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Buying and Selling at Doximity

In other Doximity news, Director Regina M. Benjamin sold 10,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director owned 16,618 shares of the company’s stock, valued at approximately $997,080. This trade represents a 37.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director owned 6,360 shares in the company, valued at $381,600. This represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,000 shares of company stock valued at $4,400,970 in the last ninety days. Company insiders own 31.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DOCS. Truist Financial raised their price objective on Doximity from $52.00 to $61.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. Needham & Company LLC lowered their price target on Doximity from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Mizuho dropped their price objective on shares of Doximity from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 16th. The Goldman Sachs Group set a $50.00 target price on shares of Doximity and gave the company a “neutral” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley dropped their price target on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Doximity currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.89.

Doximity Trading Up 0.1%

Shares of Doximity stock opened at $60.70 on Friday. The stock’s fifty day moving average price is $57.67 and its 200-day moving average price is $59.56. The firm has a market cap of $11.40 billion, a P/E ratio of 60.70, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 12 month low of $25.00 and a 12 month high of $85.21.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current year.

Doximity Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.