Sparta 24 Ltd. Takes $2.94 Million Position in Doximity, Inc. $DOCS

Sparta 24 Ltd. bought a new position in shares of Doximity, Inc. (NYSE:DOCS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 126,266 shares of the company’s stock, valued at approximately $2,942,000. Doximity accounts for 3.4% of Sparta 24 Ltd.’s investment portfolio, making the stock its 6th largest position. Sparta 24 Ltd. owned 0.07% of Doximity as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings 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 purchasing an additional 397 shares during the period. Toth Financial Advisory Corp lifted its holdings in Doximity by 100.0% in the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after buying an additional 500 shares during the period. Farther Finance Advisors LLC grew its position in shares of Doximity by 35.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after buying an additional 405 shares during the last quarter. Leonteq Securities AG grew its position in shares of Doximity by 65.6% in the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after buying an additional 1,154 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Doximity in the 4th quarter worth approximately $87,000. 87.19% of the stock is owned by institutional investors.

Doximity Stock Performance

DOCS stock opened at $21.57 on Friday. Doximity, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 6.68 and a beta of 1.30. The business’s 50 day moving average price is $21.08 and its two-hundred day moving average price is $26.68.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DOCS shares. The Goldman Sachs Group decreased their target price on Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Citigroup cut shares of Doximity to an “underperform” rating in a report on Monday, June 29th. Leerink Partners reduced their price objective on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Needham & Company LLC decreased their price objective on shares of Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, Morgan Stanley decreased their price objective on shares of Doximity from $49.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.33.

Insider Activity at Doximity

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

Doximity Company Profile

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.