10,015 Shares in Doximity, Inc. $DOCS Purchased by Pinnacle Wealth Management LLC

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 stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,015 shares of the company's stock, valued at approximately $581,000.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in shares of Doximity by 19.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 162,905 shares of the company's stock valued at $8,697,000 after buying an additional 27,001 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Doximity by 57.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,929 shares of the company's stock valued at $370,000 after buying an additional 2,542 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Doximity during the fourth quarter valued at about $220,000. Barclays PLC lifted its position in shares of Doximity by 191.1% during the fourth quarter. Barclays PLC now owns 155,447 shares of the company's stock valued at $8,299,000 after buying an additional 102,046 shares during the last quarter. Finally, Mariner LLC lifted its position in shares of Doximity by 27.5% during the fourth quarter. Mariner LLC now owns 31,309 shares of the company's stock valued at $1,672,000 after buying an additional 6,753 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DOCS has been the subject of several analyst reports. Mizuho decreased their price target on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Canaccord Genuity Group upped their target price on Doximity from $50.00 to $59.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company upped their target price on Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Finally, Needham & Company LLC upped their target price on Doximity from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.21.

Insider Buying and Selling

In related 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 of the company's stock, valued at $1,046,934. This trade represents a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction dated 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 approximately $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,000 shares of company stock valued at $2,140,940 over the last ninety days. Company insiders own 31.30% of the company's stock.

Doximity Trading Up 5.6%

Shares of DOCS stock traded up $3.5630 during mid-day trading on Friday, reaching $67.6930. The stock had a trading volume of 1,637,248 shares, compared to its average volume of 2,323,116. The business's fifty day moving average is $60.80 and its 200-day moving average is $60.46. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 67.69, a PEG ratio of 4.10 and a beta of 1.36. Doximity, Inc. has a 1-year low of $35.32 and a 1-year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share 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%.The firm's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, analysts forecast that Doximity, Inc. will post 0.99 earnings per share 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.