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

Pacer Advisors Inc. grew its position in shares of Doximity, Inc. (NYSE:DOCS) by 99.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 436,966 shares of the company’s stock after buying an additional 218,043 shares during the quarter. Pacer Advisors Inc.’s holdings in Doximity were worth $19,349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in DOCS. Carmignac Gestion raised its stake in Doximity by 355.9% during the fourth quarter. Carmignac Gestion now owns 1,893,026 shares of the company’s stock worth $83,831,000 after acquiring an additional 1,477,798 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Doximity by 325,436.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock worth $57,515,000 after acquiring an additional 1,298,492 shares during the last quarter. Federated Hermes Inc. boosted its stake in Doximity by 3,422.7% in the fourth quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock valued at $55,309,000 after acquiring an additional 1,213,627 shares during the period. Capital World Investors boosted its stake in Doximity by 25.7% in the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after acquiring an additional 1,101,848 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Doximity by 525.3% during the third quarter. Victory Capital Management Inc. now owns 1,096,965 shares of the company’s stock valued at $80,243,000 after purchasing an additional 921,533 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Kira Scherer Wampler sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 that occurred on Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of the transaction, the insider directly owned 90,706 shares of the company’s stock, valued at $1,851,309.46. This trade represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 16,180 shares of company stock worth $395,110. Corporate insiders own 31.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DOCS shares. BTIG Research cut Doximity from a “buy” rating to a “neutral” rating in a research report on Thursday, May 14th. Bank of America reduced their price objective on Doximity from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Robert W. Baird restated a “neutral” rating and set a $18.00 price objective (down from $40.00) on shares of Doximity in a research note on Thursday, May 14th. Evercore lowered Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 target price on the stock. in a research report on Wednesday, April 8th. Finally, Leerink Partners cut their target price on Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.62.

Doximity Trading Up 0.0%

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

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.