Summit X LLC decreased its stake in Docusign Inc (NASDAQ:DOCU) by 51.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,298 shares of the company’s stock after selling 8,881 shares during the period. Summit X LLC’s holdings in Docusign were worth $605,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in DOCU. North Star Investment Management Corp. purchased a new position in shares of Docusign in the third quarter worth about $25,000. Hartford Financial Management Inc. purchased a new position in Docusign in the 3rd quarter worth approximately $31,000. Winslow Evans & Crocker Inc. purchased a new position in Docusign in the 4th quarter worth approximately $32,000. Whittier Trust Co. grew its stake in Docusign by 229.4% in the 3rd quarter. Whittier Trust Co. now owns 560 shares of the company’s stock worth $35,000 after buying an additional 390 shares in the last quarter. Finally, Squar Milner Financial Services LLC grew its stake in Docusign by 719.1% in the 3rd quarter. Squar Milner Financial Services LLC now owns 770 shares of the company’s stock worth $47,000 after buying an additional 676 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:DOCU traded down $0.09 during midday trading on Thursday, reaching $74.33. 1,823,944 shares of the stock traded hands, compared to its average volume of 1,961,428. The company has a fifty day moving average of $74.04 and a 200 day moving average of $62.44. Docusign Inc has a 12 month low of $43.13 and a 12 month high of $77.01. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $13.12 billion, a P/E ratio of -56.31 and a beta of 1.44.
Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.08. Docusign had a negative net margin of 25.28% and a negative return on equity of 26.77%. The company had revenue of $249.50 million during the quarter, compared to analyst estimates of $240.40 million. Docusign’s quarterly revenue was up 39.9% compared to the same quarter last year. On average, analysts predict that Docusign Inc will post -0.9 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on DOCU shares. Bank of America boosted their price objective on shares of Docusign from $62.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Morgan Stanley lowered shares of Docusign from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $67.00 to $76.00 in a report on Monday, January 13th. Evercore ISI started coverage on shares of Docusign in a report on Monday, November 4th. They issued an “outperform” rating and a $80.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Docusign from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Citigroup boosted their price objective on shares of Docusign from $72.00 to $85.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Docusign has a consensus rating of “Buy” and an average price target of $77.33.
In related news, Director Enrique T. Salem sold 722,647 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $75.50, for a total transaction of $54,559,848.50. Following the completion of the sale, the director now directly owns 65,494 shares in the company, valued at approximately $4,944,797. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Scott V. Olrich sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $66.69, for a total transaction of $133,380.00. Following the sale, the chief operating officer now owns 497,770 shares of the company’s stock, valued at $33,196,281.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,585,805 shares of company stock valued at $119,025,392 over the last quarter. 13.60% of the stock is currently owned by company insiders.
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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