Glynn Capital Management LLC boosted its position in Docusign Inc (NASDAQ:DOCU) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 418,011 shares of the company’s stock after buying an additional 17,937 shares during the quarter. Docusign makes up about 4.7% of Glynn Capital Management LLC’s portfolio, making the stock its 8th biggest position. Glynn Capital Management LLC owned about 0.24% of Docusign worth $25,883,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Docusign by 58.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,338,342 shares of the company’s stock worth $812,179,000 after purchasing an additional 6,051,597 shares during the last quarter. BlackRock Inc. increased its position in shares of Docusign by 98.2% during the 2nd quarter. BlackRock Inc. now owns 5,122,761 shares of the company’s stock worth $254,654,000 after purchasing an additional 2,537,764 shares during the last quarter. Scout Investments Inc. acquired a new position in shares of Docusign during the 3rd quarter worth approximately $67,705,000. Morgan Stanley increased its position in shares of Docusign by 73.7% during the 2nd quarter. Morgan Stanley now owns 2,440,441 shares of the company’s stock worth $121,314,000 after purchasing an additional 1,035,506 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Docusign by 55.9% during the 3rd quarter. First Trust Advisors LP now owns 2,755,720 shares of the company’s stock worth $170,634,000 after purchasing an additional 988,106 shares during the last quarter. 69.57% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on DOCU. FBN Securities set a $65.00 price target on Docusign and gave the stock a “buy” rating in a research report on Friday, September 6th. ValuEngine lowered Docusign from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Citigroup boosted their price target on Docusign from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. KeyCorp set a $65.00 price target on Docusign and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Wedbush boosted their price target on Docusign from $65.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Docusign has an average rating of “Buy” and a consensus price target of $69.13.
In related news, COO Scott V. Olrich sold 4,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $58.98, for a total value of $235,920.00. Also, CRO Loren Alhadeff sold 24,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $55.64, for a total value of $1,335,360.00. Insiders have sold a total of 66,698 shares of company stock valued at $4,051,109 over the last quarter. 13.60% of the stock is currently owned by corporate insiders.
Shares of NASDAQ DOCU traded up $1.32 during midday trading on Friday, hitting $66.73. 1,331,000 shares of the company’s stock were exchanged, compared to its average volume of 2,581,880. 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 Inc has a 12 month low of $35.06 and a 12 month high of $69.89. The company’s 50 day moving average price is $64.76 and its 200 day moving average price is $55.14. The firm has a market capitalization of $11.62 billion, a PE ratio of -23.01 and a beta of 1.45.
Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $235.61 million during the quarter, compared to the consensus estimate of $220.81 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. On average, equities research analysts anticipate that Docusign Inc will post -1.04 EPS for the current 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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