Kevin Spain, a director at Doximity (DOCS), recently bought 775,000 shares. The buy came to a total cost of just over $20 million, and represents a new stake for the director.
The move comes as another director sold nearly 4.3 million shares, netting over $105 million. While that may sound extreme, the company just went public last week. Full insider data isn’t available yet, but it still appears substantial in its initial post-IPO period.
Doximity operates a cloud-based digital platform for medical professionals, to help coordinate and organize healthcare data. Shares are up about 10 percent from their IPO price of $50, but well off their peak trading price of $65.
- Man Who Predicted 2008 Crash: “The Mother of All Crashes is Coming”
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He's warning the "mother of all crashes" is coming.
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The company went public at a time of profitability, and coming off a hot year of growth, with earnings up 188 percent and revenue up 83 percent. The company also sports a solid 24 percent profit margin.
Action to take: It’s a bit early to tell on any trading patterns in shares, but the company plays to some strong long-term trends in healthcare and technology. That makes shares a worthwhile buy here, as the company still carries a small market cap that could grow far larger.
Because the company is so new to the markets, no options trade yet. That will change in a few weeks, and traders may have more data to find a reasonable trading pattern by then.
Disclosure: The author of this article has no position in the company mentioned here, but may make a trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.