Pacer Advisors Inc. Increases Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Key Points

• Pacer Advisors Inc. significantly increased its stake in Doximity, raising ownership by 111.7% to 629,042 shares, now valued at $36.5 million.
• Research analysts have mixed sentiments on Doximity, with price target revisions ranging from $50.00 to $65.00 and an average rating of "Moderate Buy."
• Doximity's stock recently traded at $60.70, with a market cap of $11.40 billion and a strong quarterly earnings report showing a 17.1% revenue growth.

Pacer Advisors Inc. boosted its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 111.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 629,042 shares of the company's stock after purchasing an additional 331,910 shares during the period. Pacer Advisors Inc. owned approximately 0.34% of Doximity worth $36,503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after acquiring an additional 2,571,580 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Doximity by 708.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock worth $80,641,000 after purchasing an additional 1,323,634 shares during the period. SG Americas Securities LLC bought a new stake in Doximity in the 1st quarter valued at approximately $65,702,000. Invesco Ltd. increased its holdings in shares of Doximity by 525.1% during the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock worth $67,934,000 after acquiring an additional 1,068,849 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Doximity by 1,178.3% during the 4th quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock valued at $56,711,000 after acquiring an additional 979,113 shares during the period. Institutional investors and hedge funds own 87.19% of the company's stock.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the director directly 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,000 shares of company stock worth $4,400,970 in the last ninety days. Insiders own 31.30% of the company's stock.

Analyst Ratings Changes

DOCS has been the subject of a number of research analyst reports. KeyCorp increased their price target on Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Raymond James Financial lowered their price objective on Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Morgan Stanley cut their price target on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Canaccord Genuity Group dropped their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a report on Friday, May 16th. Finally, Robert W. Baird lowered their target price on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.89.

Doximity Stock Up 0.7%

Doximity stock traded up $0.39 during midday trading on Wednesday, hitting $60.09. 218,836 shares of the stock were exchanged, compared to its average volume of 2,353,820. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The company has a fifty day simple moving average of $57.95 and a two-hundred day simple moving average of $59.69. The stock has a market capitalization of $11.29 billion, a PE ratio of 60.09, a P/E/G ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share 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 quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. As a group, equities research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

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.