Means Investment CO. Inc. decreased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,523 shares of the company’s stock after selling 145 shares during the period. Means Investment CO. Inc.’s holdings in DocuSign were worth $713,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Modus Advisors LLC raised its position in DocuSign by 5.7% during the first quarter. Modus Advisors LLC now owns 9,827 shares of the company’s stock worth $1,989,000 after acquiring an additional 531 shares during the last quarter. Private Asset Management Inc. acquired a new position in DocuSign during the first quarter worth about $233,000. Bard Financial Services Inc. acquired a new position in DocuSign during the fourth quarter worth about $506,000. DekaBank Deutsche Girozentrale raised its position in DocuSign by 222.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 241,675 shares of the company’s stock worth $55,536,000 after acquiring an additional 166,769 shares during the last quarter. Finally, Hall Private Wealth Advisors acquired a new position in DocuSign during the fourth quarter worth about $935,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.
DOCU traded up $4.84 during trading on Thursday, hitting $210.55. 55,890 shares of the company’s stock were exchanged, compared to its average volume of 3,276,417. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.14. DocuSign, Inc. has a 1 year low of $85.84 and a 1 year high of $290.23. The stock has a 50 day moving average price of $218.35 and a 200 day moving average price of $227.27. The firm has a market cap of $40.65 billion, a P/E ratio of -176.95 and a beta of 0.88.
DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Wednesday, March 10th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.15. DocuSign had a negative net margin of 16.83% and a negative return on equity of 30.14%. The company had revenue of $430.89 million during the quarter, compared to the consensus estimate of $407.95 million. During the same period in the previous year, the firm earned $0.12 earnings per share. DocuSign’s revenue for the quarter was up 56.7% on a year-over-year basis. Analysts forecast that DocuSign, Inc. will post -0.68 earnings per share for the current fiscal year.
In other DocuSign news, COO Scott V. Olrich sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $256.69, for a total transaction of $1,488,802.00. Following the completion of the sale, the chief operating officer now owns 208,346 shares in the company, valued at $53,480,334.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel D. Springer sold 356,479 shares of the business’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $229.61, for a total transaction of $81,851,143.19. Following the sale, the chief executive officer now owns 1,660,721 shares of the company’s stock, valued at approximately $381,318,148.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 379,731 shares of company stock valued at $87,272,153. 5.06% of the stock is owned by insiders.
A number of equities analysts have issued reports on DOCU shares. Zacks Investment Research upgraded shares of DocuSign from a “hold” rating to a “buy” rating and set a $230.00 target price for the company in a research report on Wednesday. Piper Sandler upgraded shares of DocuSign from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $225.00 to $300.00 in a research report on Monday, January 4th. Robert W. Baird reiterated a “buy” rating and set a $280.00 price target on shares of DocuSign in a report on Friday, March 12th. Evercore ISI upgraded shares of DocuSign from an “in-line” rating to an “outperform” rating and set a $285.00 price target for the company in a report on Thursday, March 18th. Finally, Morgan Stanley lifted their price target on shares of DocuSign from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, March 18th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. DocuSign has a consensus rating of “Buy” and an average target price of $272.55.
DocuSign Company Profile
DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.
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