Steward Partners Investment Advisory LLC acquired a new position in Docusign Inc (NASDAQ:DOCU) in the first quarter, HoldingsChannel reports. The institutional investor acquired 3,998 shares of the company’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Accel London III Associates L.P. bought a new position in Docusign during the fourth quarter valued at approximately $98,230,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Docusign by 60.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,087,761 shares of the company’s stock valued at $203,917,000 after buying an additional 1,909,833 shares during the last quarter. FMR LLC boosted its stake in Docusign by 40.6% during the fourth quarter. FMR LLC now owns 5,343,427 shares of the company’s stock valued at $214,165,000 after buying an additional 1,544,047 shares during the last quarter. First Trust Advisors LP bought a new position in Docusign during the fourth quarter valued at approximately $56,620,000. Finally, Greenspring Associates Inc. bought a new position in Docusign during the fourth quarter valued at approximately $27,284,000. 52.71% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:DOCU opened at $53.05 on Friday. The company has a market capitalization of $9.27 billion and a PE ratio of -18.29. Docusign Inc has a 1 year low of $35.06 and a 1 year high of $68.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.91.
Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Docusign had a negative net margin of 60.84% and a negative return on equity of 86.06%. The company had revenue of $199.73 million during the quarter, compared to the consensus estimate of $193.63 million. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. Research analysts expect that Docusign Inc will post -1 EPS for the current fiscal year.
In other news, CRO Loren Alhadeff sold 8,717 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $56.04, for a total value of $488,500.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kirsten O. Wolberg sold 10,166 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $52.95, for a total value of $538,289.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,883 shares of company stock worth $2,212,890.
A number of equities analysts recently commented on the company. Wedbush increased their price target on Docusign from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Piper Jaffray Companies increased their price target on Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. ValuEngine lowered Docusign from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank raised Docusign from a “hold” rating to a “buy” rating and increased their price target for the company from $50.00 to $65.00 in a research note on Tuesday, February 12th. Finally, Zacks Investment Research raised Docusign from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $61.75.
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DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.
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