Iron Financial LLC acquired a new position in Docusign Inc (NASDAQ:DOCU) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 6,416 shares of the company’s stock, valued at approximately $333,000.
Other large investors have also recently made changes to their positions in the company. Clean Yield Group bought a new stake in Docusign during the 1st quarter valued at $31,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Docusign in the 2nd quarter worth $36,000. Rehmann Capital Advisory Group boosted its position in shares of Docusign by 226.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock worth $45,000 after purchasing an additional 606 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Docusign in the 2nd quarter worth $47,000. Finally, Regal Wealth Group Inc. acquired a new stake in shares of Docusign in the 2nd quarter worth $50,000. 62.36% of the stock is currently owned by institutional investors.
DOCU has been the subject of a number of recent analyst reports. DA Davidson initiated coverage on Docusign in a research report on Thursday. They issued a “buy” rating and a $52.00 price objective for the company. Wedbush reissued a “hold” rating and issued a $48.00 price objective on shares of Docusign in a research report on Friday, June 7th. ValuEngine raised Docusign from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. FBN Securities initiated coverage on Docusign in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Danske initiated coverage on Docusign in a research report on Friday. They issued a “buy” rating and a $52.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.54.
In related news, insider Kirsten O. Wolberg sold 7,877 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total value of $401,175.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Solvik sold 541,532 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $51.52, for a total value of $27,899,728.64. The disclosure for this sale can be found here. Insiders sold a total of 590,988 shares of company stock valued at $30,533,281 in the last 90 days. 13.60% of the stock is currently owned by company insiders.
DOCU stock traded up $0.68 during midday trading on Friday, reaching $44.81. The stock had a trading volume of 1,414,500 shares, compared to its average volume of 2,063,189. The stock has a market cap of $7.63 billion, a PE ratio of -15.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a fifty day simple moving average of $50.46 and a two-hundred day simple moving average of $52.88. Docusign Inc has a 52-week low of $35.06 and a 52-week high of $68.35.
Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.30. The company had revenue of $213.96 million during the quarter, compared to analyst estimates of $208.15 million. Docusign had a negative return on equity of 22.27% and a negative net margin of 26.54%. The firm’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. On average, sell-side analysts predict that Docusign Inc will post -0.99 EPS for the current fiscal 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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