Stratos Wealth Partners LTD. lifted its stake in shares of Docusign Inc (NASDAQ:DOCU) by 54.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,656 shares of the company’s stock after buying an additional 1,644 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Docusign were worth $802,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Docusign by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,337 shares of the company’s stock worth $164,519,000 after buying an additional 10,893 shares in the last quarter. IBM Retirement Fund acquired a new stake in shares of Docusign during the first quarter worth approximately $347,000. Schroder Investment Management Group acquired a new stake in shares of Docusign during the first quarter worth approximately $228,000. Veracity Capital LLC acquired a new stake in shares of Docusign during the second quarter worth approximately $234,000. Finally, CENTRAL TRUST Co grew its position in shares of Docusign by 16.6% during the second quarter. CENTRAL TRUST Co now owns 2,623 shares of the company’s stock worth $452,000 after buying an additional 373 shares in the last quarter. 78.89% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ DOCU opened at $216.83 on Friday. Docusign Inc has a fifty-two week low of $43.13 and a fifty-two week high of $217.70. The firm’s 50-day simple moving average is $184.37 and its 200 day simple moving average is $118.60. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.43 and a current ratio of 1.43.
Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Docusign had a negative net margin of 19.91% and a negative return on equity of 29.36%. The business had revenue of $297.02 million for the quarter, compared to analysts’ expectations of $281.12 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue was up 38.8% on a year-over-year basis. On average, sell-side analysts expect that Docusign Inc will post -0.74 EPS for the current fiscal year.
In other Docusign news, Director Enrique T. Salem sold 64,245 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $189.87, for a total value of $12,198,198.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Scott V. Olrich sold 5,800 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $203.70, for a total transaction of $1,181,460.00. Following the completion of the sale, the chief operating officer now owns 405,403 shares in the company, valued at $82,580,591.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 248,534 shares of company stock worth $40,460,572. Company insiders own 5.06% of the company’s stock.
DOCU has been the subject of a number of research reports. Zacks Investment Research raised shares of Docusign from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective for the company in a report on Friday, May 29th. Oppenheimer initiated coverage on shares of Docusign in a report on Wednesday, June 24th. They issued an “outperform” rating and a $200.00 price objective for the company. Citigroup lifted their price objective on shares of Docusign from $150.00 to $168.00 in a report on Friday, June 5th. Goldman Sachs Group lifted their price objective on shares of Docusign from $100.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Docusign from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $144.00.
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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