Sparta 24 Ltd. Buys Shares of 126,266 Doximity, Inc. $DOCS

Sparta 24 Ltd. bought a new stake in shares of Doximity, Inc. (NYSE:DOCS) in the 1st quarter, Holdings Channel reports. The firm bought 126,266 shares of the company’s stock, valued at approximately $2,942,000. Doximity accounts for about 3.4% of Sparta 24 Ltd.’s portfolio, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOCS. Northwestern Mutual Wealth Management Co. increased its position in Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after buying an additional 397 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in Doximity by 100.0% in the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after acquiring an additional 500 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Doximity by 35.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after acquiring an additional 405 shares in the last quarter. Leonteq Securities AG boosted its holdings in Doximity by 65.6% in the first quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Doximity in the fourth quarter worth $87,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 9,000 shares of Doximity stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the sale, the director owned 19,839 shares of the company’s stock, valued at $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the sale, the insider owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This trade represents a 2.62% decrease in their position. 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. Insiders sold 13,753 shares of company stock valued at $343,925 in the last ninety days. 31.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, May 14th. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Wells Fargo & Company reissued an “equal weight” rating and set a $18.00 price objective (down from $32.00) on shares of Doximity in a research report on Thursday, May 14th. Citigroup lowered shares of Doximity to an “underperform” rating in a research note on Monday, June 29th. Finally, Canaccord Genuity Group decreased their target price on shares of Doximity from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.33.

Doximity Trading Down 2.9%

Shares of DOCS opened at $21.57 on Friday. The firm has a fifty day simple moving average of $21.08 and a two-hundred day simple moving average of $26.68. The firm has a market cap of $3.95 billion, a PE ratio of 21.79, a P/E/G ratio of 6.68 and a beta of 1.30. Doximity, Inc. has a 1-year low of $17.15 and a 1-year high of $76.51.

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.