Pinnacle Wealth Management LLC Purchases New Holdings in Doximity, Inc. $DOCS

Key Points

• Pinnacle Wealth Management LLC has acquired 10,015 shares of Doximity, Inc., valued at approximately $581,000, marking the firm's new position in the company in Q1 2023.
• Recent insider sales include 5,000 shares sold by Director Regina M. Benjamin and 10,000 shares by Director Timothy S. Cabral, significantly reducing their ownership stakes in the company.
• Wall Street analysts have mixed ratings for Doximity, with an average target price of $66.21, indicating a "Moderate Buy" sentiment based on recent evaluations.

Pinnacle Wealth Management LLC bought a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,015 shares of the company's stock, valued at approximately $581,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCS. Envestnet Asset Management Inc. raised its stake in Doximity by 19.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 162,905 shares of the company's stock worth $8,697,000 after acquiring an additional 27,001 shares during the last quarter. Sterling Capital Management LLC grew its position in Doximity by 57.9% during the 4th quarter. Sterling Capital Management LLC now owns 6,929 shares of the company's stock worth $370,000 after purchasing an additional 2,542 shares during the period. Townsquare Capital LLC acquired a new stake in Doximity during the 4th quarter worth about $220,000. Barclays PLC grew its position in Doximity by 191.1% during the 4th quarter. Barclays PLC now owns 155,447 shares of the company's stock worth $8,299,000 after purchasing an additional 102,046 shares during the period. Finally, Mariner LLC grew its position in Doximity by 27.5% during the 4th quarter. Mariner LLC now owns 31,309 shares of the company's stock worth $1,672,000 after purchasing an additional 6,753 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Needham & Company LLC increased their price target on Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. The Goldman Sachs Group set a $50.00 price target on Doximity and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. William Blair reaffirmed an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Evercore ISI raised Doximity from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $50.00 to $70.00 in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. cut their price target on Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.21.

Insider Activity

In other news, Director Regina M. Benjamin sold 5,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.00, for a total transaction of $315,000.00. Following the sale, the director directly owned 16,618 shares in the company, valued at $1,046,934. This trade represents a 23.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the completion of the transaction, the director directly owned 16,618 shares in the company, valued at $948,721.62. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock worth $2,140,940 in the last ninety days. Company insiders own 31.30% of the company's stock.

Doximity Stock Up 1.3%

Shares of NASDAQ:DOCS traded up $0.7980 during trading on Wednesday, reaching $64.4080. 1,931,944 shares of the company's stock traded hands, compared to its average volume of 2,336,196. Doximity, Inc. has a fifty-two week low of $35.32 and a fifty-two week high of $85.21. The firm has a market cap of $12.06 billion, a PE ratio of 64.41, a P/E/G ratio of 4.10 and a beta of 1.36. The company has a 50-day simple moving average of $60.42 and a 200-day simple moving average of $60.37.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter in the previous year, the firm posted $0.28 EPS. Doximity's revenue was up 15.2% compared to the same quarter last year. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, equities research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

About Doximity

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.