Pacer Advisors Inc. Grows Stake in Doximity, Inc. $DOCS

Pacer Advisors Inc. grew its stake in shares of Doximity, Inc. (NYSE:DOCS) by 99.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 436,966 shares of the company’s stock after purchasing an additional 218,043 shares during the quarter. Pacer Advisors Inc. owned 0.24% of Doximity worth $19,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of DOCS. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 buying an additional 397 shares during the period. Toth Financial Advisory Corp lifted its position in Doximity by 100.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after acquiring an additional 500 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Doximity by 35.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after acquiring an additional 405 shares during the period. Leonteq Securities AG purchased a new position in Doximity in the 4th quarter worth approximately $78,000. Finally, Kestra Advisory Services LLC acquired a new stake in Doximity in the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Leerink Partners dropped their price objective on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Freedom Capital upgraded shares of Doximity to a “strong-buy” rating in a research note on Tuesday, March 17th. Needham & Company LLC lowered their price target on shares of Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Barclays reaffirmed an “equal weight” rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th. Finally, Mizuho cut their price objective on shares of Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Doximity presently has an average rating of “Hold” and an average price target of $30.62.

Doximity Stock Performance

Shares of DOCS opened at $20.46 on Friday. The firm has a 50 day simple moving average of $22.10. Doximity, Inc. has a 52-week low of $17.15 and a 52-week high of $76.51. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 3.48 and a beta of 1.30.

Insider Buying and Selling

In other Doximity news, Director Kira Scherer Wampler sold 9,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the transaction, the director directly owned 19,839 shares in the company, valued at $517,004.34. This represents a 31.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction on 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 in the company, valued at $1,851,309.46. This trade represents a 2.62% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,180 shares of company stock valued at $395,110 in the last three months. Corporate insiders own 31.30% of the company’s stock.

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.