Doximity, Inc. $DOCS Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 34.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,923 shares of the company’s stock after selling 113,741 shares during the period. Pacer Advisors Inc.’s holdings in Doximity were worth $16,014,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DOCS. Hantz Financial Services Inc. increased its holdings in Doximity by 148.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock valued at $28,000 after purchasing an additional 271 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in Doximity by 150.0% during the third quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Doximity by 176.0% during the first quarter. Smartleaf Asset Management LLC now owns 781 shares of the company’s stock worth $46,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Doximity by 196.1% in the third quarter. Farther Finance Advisors LLC now owns 1,134 shares of the company’s stock valued at $83,000 after buying an additional 751 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Doximity by 29.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,427 shares of the company’s stock valued at $88,000 after buying an additional 327 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $66.44, for a total transaction of $132,880.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at $1,318,103.16. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $70.84, for a total value of $354,200.00. Following the completion of the transaction, the director directly owned 19,839 shares of the company’s stock, valued at $1,405,394.76. This trade represents a 20.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 31.30% of the company’s stock.

Doximity Trading Down 0.2%

Shares of DOCS opened at $43.70 on Friday. Doximity, Inc. has a twelve month low of $43.25 and a twelve month high of $85.21. The firm’s fifty day simple moving average is $52.92 and its 200-day simple moving average is $60.66. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 43.70, a PEG ratio of 4.10 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DOCS. Robert W. Baird raised their target price on Doximity from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, September 11th. KeyCorp increased their price target on shares of Doximity from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Canaccord Genuity Group dropped their price objective on shares of Doximity from $67.00 to $58.00 and set a “hold” rating for the company in a report on Monday, November 10th. BMO Capital Markets started coverage on shares of Doximity in a research note on Thursday, November 13th. They set a “market perform” rating and a $55.00 target price on the stock. Finally, Morgan Stanley raised shares of Doximity from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $62.00 to $65.00 in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.94.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.