Mackenzie Financial Corp Sells 107,521 Shares of Doximity, Inc. (NASDAQ:DOCS)

Key Points

• Mackenzie Financial Corp significantly cut its stake in Doximity, Inc. by 80.4%, selling 107,521 shares and reducing its holdings to 26,281 shares worth $1.5 million.
• Several institutional investors, including Pacer Advisors Inc. and Assetmark Inc., raised their stakes in Doximity, increasing their holdings by 111.7% and 105.4%, respectively.
• Analysts have mixed views on Doximity with ten giving a buy rating and two a strong buy rating, while the average price target stands at $65.26.

Mackenzie Financial Corp cut its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 80.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,281 shares of the company's stock after selling 107,521 shares during the quarter. Mackenzie Financial Corp's holdings in Doximity were worth $1,525,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bryce Point Capital LLC raised its holdings in Doximity by 38.7% in the 1st quarter. Bryce Point Capital LLC now owns 15,350 shares of the company's stock worth $891,000 after purchasing an additional 4,279 shares in the last quarter. LPL Financial LLC raised its holdings in Doximity by 41.5% in the 1st quarter. LPL Financial LLC now owns 107,225 shares of the company's stock worth $6,222,000 after purchasing an additional 31,468 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Doximity by 15.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,673 shares of the company's stock worth $2,070,000 after purchasing an additional 4,794 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Doximity by 111.7% in the 1st quarter. Pacer Advisors Inc. now owns 629,042 shares of the company's stock worth $36,503,000 after purchasing an additional 331,910 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Doximity by 105.4% in the 1st quarter. Assetmark Inc. now owns 21,695 shares of the company's stock worth $1,259,000 after purchasing an additional 11,133 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DOCS shares. Bank of America increased their price target on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Needham & Company LLC decreased their price target on shares of Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Morgan Stanley decreased 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. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Ten investment 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 stock. According to MarketBeat.com, Doximity has an average rating of "Moderate Buy" and an average price target of $65.26.

Doximity Trading Up 1.6%

DOCS opened at $58.26 on Tuesday. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 58.26, a PEG ratio of 4.10 and a beta of 1.36. The company's 50 day moving average is $58.53 and its 200 day moving average is $59.92. Doximity, Inc. has a 12-month low of $25.00 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. As a group, analysts predict that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director owned 6,360 shares in the company, valued at $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Regina M. Benjamin sold 10,000 shares of Doximity stock in a transaction that occurred on Wednesday, June 25th. The shares were 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 in the company, valued at approximately $997,080. The trade was a 37.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock valued at $1,825,940 over the last 90 days. 37.40% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding DOCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Doximity, Inc. (NASDAQ:DOCS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.