Pacer Advisors Inc. Acquires 471,972 Shares of Doximity, Inc. $DOCS

Pacer Advisors Inc. grew its holdings in Doximity, Inc. (NYSE:DOCS) by 108.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 908,938 shares of the company’s stock after purchasing an additional 471,972 shares during the period. Pacer Advisors Inc.’s holdings in Doximity were worth $21,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Carmignac Gestion boosted its stake in shares of Doximity by 127.8% during the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after purchasing an additional 2,418,971 shares during the period. SG Americas Securities LLC grew its holdings in shares of Doximity by 3,403.2% in the first quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock worth $32,820,000 after purchasing an additional 1,368,388 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Doximity by 325,436.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock worth $57,515,000 after buying an additional 1,298,492 shares during the period. Federated Hermes Inc. increased its stake in Doximity by 3,422.7% in the 4th quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock worth $55,309,000 after buying an additional 1,213,627 shares during the period. Finally, Swedbank AB lifted its holdings in Doximity by 1,147.9% during the 1st quarter. Swedbank AB now owns 1,010,559 shares of the company’s stock valued at $23,546,000 after buying an additional 929,576 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Leerink Partners lowered their price objective on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Weiss Ratings lowered shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Robert W. Baird reaffirmed a “neutral” rating and set a $18.00 price target (down from $40.00) on shares of Doximity in a research note on Thursday, May 14th. BMO Capital Markets lowered their price target on Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, May 14th. Finally, Bank of America reissued an “underperform” rating and issued a $20.00 price objective (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.33.

Insider Transactions at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction 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 trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the sale, the director owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. This represents a 31.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 worth $343,925 in the last three months. Insiders own 31.80% of the company’s stock.

Doximity Price Performance

DOCS stock opened at $21.72 on Tuesday. Doximity, Inc. has a 1-year low of $17.15 and a 1-year high of $76.51. The business has a 50-day moving average price of $21.09 and a 200 day moving average price of $24.76. The company has a market capitalization of $3.97 billion, a P/E ratio of 21.94, a PEG ratio of 7.59 and a beta of 1.29.

About Doximity

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.