Spark Investment Management LLC purchased a new stake in shares of Docusign Inc (NASDAQ:DOCU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 218,100 shares of the company’s stock, valued at approximately $11,306,000.
A number of other hedge funds also recently made changes to their positions in the business. Valeo Financial Advisors LLC grew its holdings in Docusign by 11.3% during the first quarter. Valeo Financial Advisors LLC now owns 3,300 shares of the company’s stock valued at $171,000 after purchasing an additional 335 shares during the last quarter. Hudock Capital Group LLC grew its stake in shares of Docusign by 26.2% in the fourth quarter. Hudock Capital Group LLC now owns 2,046 shares of the company’s stock worth $82,000 after acquiring an additional 425 shares during the last quarter. Caz Investments LP grew its stake in shares of Docusign by 86.6% in the fourth quarter. Caz Investments LP now owns 933 shares of the company’s stock worth $37,000 after acquiring an additional 433 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Docusign by 12.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,384 shares of the company’s stock worth $227,000 after acquiring an additional 498 shares during the last quarter. Finally, Private Capital Group LLC grew its stake in shares of Docusign by 173.0% in the fourth quarter. Private Capital Group LLC now owns 819 shares of the company’s stock worth $33,000 after acquiring an additional 519 shares during the last quarter. Institutional investors own 53.08% of the company’s stock.
Several equities research analysts have recently issued reports on DOCU shares. Wedbush raised their price objective on shares of Docusign from $48.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Zacks Investment Research raised Docusign from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Piper Jaffray Companies raised their target price on Docusign from $50.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, March 11th. KeyCorp assumed coverage on Docusign in a research report on Monday, January 28th. They issued an “overweight” rating and a $59.00 target price for the company. Finally, Deutsche Bank raised Docusign from a “hold” rating to a “buy” rating and raised their target price for the stock from $50.00 to $65.00 in a research report on Tuesday, February 12th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $61.75.
In other Docusign news, COO Scott V. Olrich sold 10,000 shares of Docusign stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $53.39, for a total transaction of $533,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Loren Alhadeff sold 8,717 shares of Docusign stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $56.04, for a total value of $488,500.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,883 shares of company stock valued at $2,212,890. Company insiders own 13.60% of the company’s stock.
Shares of NASDAQ DOCU traded down $0.47 during midday trading on Friday, reaching $54.27. 6,586 shares of the company traded hands, compared to its average volume of 1,562,964. The stock has a market cap of $9.49 billion and a PE ratio of -18.56. Docusign Inc has a 12 month low of $35.06 and a 12 month high of $68.35. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.91 and a current ratio of 1.91.
Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). The company had revenue of $199.73 million for the quarter, compared to the consensus estimate of $193.63 million. Docusign had a negative net margin of 60.84% and a negative return on equity of 86.06%. Docusign’s revenue was up 34.2% compared to the same quarter last year. Analysts predict that Docusign Inc will post -1 earnings per share for the current year.
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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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