Carnegie Capital Asset Management LLC reduced its position in DocuSign, Inc. (NASDAQ: DOCU – Get a rating) by 73.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,006 shares of the company after selling 5,666 shares during the period. Carnegie Capital Asset Management LLC’s holdings in DocuSign were worth $215,000 when it last filed with the SEC.
Other big investors have also been buying and selling shares of the company recently. Bouvel Investment Partners LLC increased its stake in DocuSign shares by 2.6% during the 1st quarter. Bouvel Investment Partners LLC now owns 10,916 shares of the company worth $1,169,000 after purchasing an additional 275 shares in the last quarter. Ridgewood Investments LLC purchased a new equity stake in DocuSign during Q1 valued at approximately $845,000. 360 Financial Inc. increased its stake in DocuSign shares by 8.1% in Q1. 360 Financial Inc. now owns 2,670 shares of the company worth $300,000 after buying 200 more shares in the last quarter. Arden Trust Co increased its shareholding in DocuSign by 21.0% during the 1st quarter. Arden Trust Co now owns 6,957 shares of the company worth $745,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in DocuSign by 45.6% in the 1st quarter. Nordea Investment Management AB now owns 557,884 shares of the company worth $60,051,000 after purchasing an additional 174,798 shares during the period. Hedge funds and other institutional investors hold 75.62% of the company’s shares.
In related news, COO Scott V. Olrich sold 3,948 shares of DocuSign in a trade on Tuesday, April 5. The shares were sold at an average price of $110.09, for a total value of $434,635.32. As a result of the transaction, the chief operating officer now owns 230,663 shares of the company, valued at approximately $25,393,689.67. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Also, COO Scott V. Olrich sold 12,500 DocuSign shares in a trade on Tuesday, March 29. The stock was sold at an average price of $110.15, for a total transaction of $1,376,875.00. Disclosure of this sale can be found here. 2.55% of the shares are held by insiders of the company.
Several research analysts recently commented on the title. Wells Fargo & Company cut its price target on DocuSign stock from $80.00 to $63.00 and set an “equal weight” rating for the company in a Friday, June 10 report. JMP Securities cut its price target on DocuSign shares from $180.00 to $151.00 and set a “market outperformance” rating for the company in a Friday, June 10 report. Oppenheimer downgraded DocuSign shares from an “outperforming” rating to a “market performing” rating in a Friday, March 11 report. Citigroup cut its price target on DocuSign shares from $114.00 to $90.00 and set a “buy” rating for the company in a Friday, June 10 report. Finally, Morgan Stanley cut its price target on DocuSign shares from $80.00 to $73.00 and set an “equal weight” rating for the company in a Friday, June 10 report. Three investment analysts have assigned the stock a sell rating, nine have issued a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $132.60.
DocuSign Inventory opened at $68.75 on Friday. The company’s fifty-day moving average price is $77.59 and its 200-day moving average price is $105.54. The company has a debt ratio of 2.06, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $13.75 billion, a P/E ratio of -152.77 and a beta of 1.05. DocuSign, Inc. has a fifty-two week minimum of $55.96 and a fifty-two week maximum of $314.76.
DocuSign (NASDAQ: DOCU – Get a rating) last released its quarterly earnings data on Thursday, June 9. The company reported earnings per share of $0.38 for the quarter, missing the consensus estimate of $0.46 per ($0.08). The company posted revenue of $588.69 million for the quarter, compared to $581.85 million expected by analysts. DocuSign had a negative net margin of 4.00% and a negative return on equity of 17.17%. The company’s quarterly revenue increased by 25.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. On average, analysts predict DocuSign, Inc. will post -0.43 earnings per share for the current year.
DocuSign Profile (Get a rating)
DocuSign, Inc provides electronic signature software in the United States and around the world. The company provides an e-signature solution that enables businesses to digitally prepare, sign, execute and manage agreements. It also offers CLM, which automates workflows throughout the agreement process; Information that uses artificial intelligence (AI) to research and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales reps to automatically generate agreements in a few clicks from Salesforce; Negotiate for Salesforce which supports approvals, document comparisons and version control; Analyzer, which helps customers understand what they’re signing before signing; and CLM+ which provide AI-powered contract lifecycle management.
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