Guggenheim Capital LLC trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 22.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,351 shares of the company’s stock after selling 4,827 shares during the quarter. Guggenheim Capital LLC’s holdings in DocuSign were worth $953,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC acquired a new position in DocuSign during the 1st quarter worth about $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of DocuSign by 440.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after purchasing an additional 220 shares during the last quarter. CI Investments Inc. boosted its stake in shares of DocuSign by 115.5% in the fourth quarter. CI Investments Inc. now owns 556 shares of the company’s stock valued at $31,000 after buying an additional 298 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in DocuSign by 108.9% during the first quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 295 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of DocuSign by 203.6% in the first quarter. Versant Capital Management Inc now owns 583 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the period. 77.96% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently commented on DOCU shares. 22nd Century Group reiterated a “maintains” rating on shares of DocuSign in a research note on Friday, June 9th. Morgan Stanley dropped their price target on DocuSign from $54.00 to $49.00 in a research note on Tuesday, June 27th. Wedbush lifted their price target on DocuSign from $60.00 to $67.00 in a report on Friday, June 9th. Bank of America lifted their price target on DocuSign from $68.00 to $72.00 in a research report on Friday, June 9th. Finally, UBS Group decreased their target price on DocuSign from $48.00 to $44.00 and set a “sell” rating on the stock in a report on Monday, August 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus target price of $62.86.
DocuSign Stock Up 2.7 %
Shares of DOCU stock opened at $51.67 on Monday. The stock’s fifty day simple moving average is $50.76 and its 200 day simple moving average is $53.78. DocuSign, Inc. has a twelve month low of $39.57 and a twelve month high of $69.45. The firm has a market capitalization of $10.46 billion, a P/E ratio of -147.63, a P/E/G ratio of 9.98 and a beta of 0.90.
DocuSign (NASDAQ:DOCU – Get Free Report) last announced its earnings results on Thursday, June 8th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.56 by $0.16. DocuSign had a positive return on equity of 3.70% and a negative net margin of 2.69%. The company had revenue of $661.39 million for the quarter, compared to analyst estimates of $641.69 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that DocuSign, Inc. will post 0.36 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Enrique T. Salem sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $50.02, for a total transaction of $125,050.00. Following the transaction, the director now directly owns 156,140 shares of the company’s stock, valued at approximately $7,810,122.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other DocuSign news, insider Stephen Shute sold 100,315 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $49.20, for a total transaction of $4,935,498.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique T. Salem sold 2,500 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the transaction, the director now directly owns 156,140 shares of the company’s stock, valued at $7,810,122.80. The disclosure for this sale can be found here. 17.80% of the stock is owned by company insiders.
DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.
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