Private Asset Management Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,150 shares of the company’s stock, valued at approximately $233,000.
Other hedge funds have also bought and sold shares of the company. NewSquare Capital LLC grew its holdings in DocuSign by 71.4% in the 4th quarter. NewSquare Capital LLC now owns 120 shares of the company’s stock valued at $27,000 after buying an additional 50 shares in the last quarter. Associated Banc Corp lifted its position in shares of DocuSign by 202.3% during the 4th quarter. Associated Banc Corp now owns 130 shares of the company’s stock worth $29,000 after buying an additional 87 shares during the last quarter. Ellis Investment Partners LLC lifted its position in shares of DocuSign by 1,300.0% during the 4th quarter. Ellis Investment Partners LLC now owns 140 shares of the company’s stock worth $31,000 after buying an additional 130 shares during the last quarter. Avion Wealth bought a new stake in shares of DocuSign during the 4th quarter worth $33,000. Finally, Retirement Group LLC bought a new stake in shares of DocuSign during the 4th quarter worth $37,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Scott V. Olrich sold 5,800 shares of the business’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $214.19, for a total value of $1,242,302.00. Following the completion of the sale, the chief operating officer now owns 202,546 shares of the company’s stock, valued at approximately $43,383,327.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Loren Alhadeff sold 5,000 shares of the business’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $258.85, for a total value of $1,294,250.00. Following the completion of the sale, the executive now directly owns 89,696 shares of the company’s stock, valued at approximately $23,217,809.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 379,731 shares of company stock valued at $87,272,153. 5.06% of the stock is owned by company insiders.
DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Wednesday, March 10th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.15. DocuSign had a negative return on equity of 30.14% and a negative net margin of 16.83%. The company had revenue of $430.89 million during the quarter, compared to analysts’ expectations of $407.95 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s quarterly revenue was up 56.7% compared to the same quarter last year. On average, sell-side analysts predict that DocuSign, Inc. will post -0.68 EPS for the current year.
Several brokerages have recently weighed in on DOCU. Morgan Stanley increased their price target on DocuSign from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, March 18th. Wedbush increased their price target on DocuSign from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, February 17th. Evercore ISI raised DocuSign from an “in-line” rating to an “outperform” rating and set a $285.00 price target for the company in a research note on Thursday, March 18th. JPMorgan Chase & Co. cut DocuSign from an “overweight” rating to a “neutral” rating and set a $271.00 price target for the company. in a research note on Wednesday, December 9th. Finally, Wells Fargo & Company decreased their target price on DocuSign from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 31st. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $272.55.
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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