First Trust Advisors LP raised its position in Docusign Inc (NASDAQ:DOCU) by 55.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,755,720 shares of the company’s stock after purchasing an additional 988,106 shares during the period. First Trust Advisors LP owned 1.57% of Docusign worth $170,634,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its position in Docusign by 103.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,973 shares of the company’s stock valued at $494,000 after acquiring an additional 4,046 shares in the last quarter. Keybank National Association OH acquired a new position in Docusign in the 3rd quarter valued at about $1,725,000. Parallel Advisors LLC grew its position in Docusign by 29.8% in the 3rd quarter. Parallel Advisors LLC now owns 6,218 shares of the company’s stock valued at $385,000 after acquiring an additional 1,426 shares in the last quarter. Berkeley Capital Partners LLC grew its position in Docusign by 3.0% in the 3rd quarter. Berkeley Capital Partners LLC now owns 10,767 shares of the company’s stock valued at $667,000 after acquiring an additional 316 shares in the last quarter. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new position in Docusign in the 3rd quarter valued at about $387,000. Institutional investors own 69.57% of the company’s stock.
In other news, COO Scott V. Olrich sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $59.50, for a total value of $119,000.00. Also, CTO Kirsten O. Wolberg sold 7,877 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $61.29, for a total value of $482,781.33. Insiders sold 66,698 shares of company stock worth $4,051,109 over the last 90 days. Company insiders own 13.60% of the company’s stock.
Several research firms have weighed in on DOCU. KeyCorp set a $65.00 target price on Docusign and gave the company a “buy” rating in a research report on Friday, September 6th. Bank of America lifted their target price on Docusign from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Citigroup lifted their target price on Docusign from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Zacks Investment Research raised Docusign from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, JMP Securities boosted their price objective on Docusign from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $69.13.
DOCU stock traded up $1.32 on Friday, reaching $66.73. 1,330,974 shares of the company’s stock were exchanged, compared to its average volume of 2,581,880. The stock has a fifty day moving average of $64.71 and a 200-day moving average of $55.07. Docusign Inc has a twelve month low of $35.06 and a twelve month high of $69.89. The firm has a market cap of $11.62 billion, a PE ratio of -23.01 and a beta of 1.45. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.06.
Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.24. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The firm had revenue of $235.61 million for the quarter, compared to analyst estimates of $220.81 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Docusign’s quarterly revenue was up 41.0% on a year-over-year basis. On average, equities research analysts predict that Docusign Inc will post -1.04 EPS for the current fiscal year.
Docusign Company Profile
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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