CIBC World Markets Inc. Buys New Position in Docusign Inc (NASDAQ:DOCU)

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CIBC World Markets Inc. bought a new stake in shares of Docusign Inc (NASDAQ:DOCU) during the 1st quarter, Holdings Channel reports. The firm bought 4,638 shares of the company’s stock, valued at approximately $240,000.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in Docusign by 130.1% during the 4th quarter. Bank of Montreal Can now owns 32,147 shares of the company’s stock valued at $1,288,000 after purchasing an additional 18,178 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Docusign during the 4th quarter valued at $156,000. Rhumbline Advisers raised its stake in Docusign by 153.1% during the 4th quarter. Rhumbline Advisers now owns 74,570 shares of the company’s stock valued at $2,989,000 after purchasing an additional 45,104 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Docusign by 87.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,629 shares of the company’s stock valued at $105,000 after purchasing an additional 1,225 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Docusign by 1,075.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 92,805 shares of the company’s stock valued at $3,720,000 after purchasing an additional 84,911 shares during the period. 61.56% of the stock is currently owned by institutional investors.

DOCU opened at $47.90 on Wednesday. Docusign Inc has a one year low of $35.06 and a one year high of $68.35. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.71. The company has a market cap of $8.42 billion, a PE ratio of -16.52 and a beta of 1.77.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.30. The firm had revenue of $213.96 million for the quarter, compared to analysts’ expectations of $208.15 million. Docusign had a negative net margin of 26.54% and a negative return on equity of 21.30%. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. As a group, equities analysts anticipate that Docusign Inc will post -1 EPS for the current fiscal year.

Several analysts have issued reports on DOCU shares. ValuEngine downgraded shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Deutsche Bank raised shares of Docusign from a “hold” rating to a “buy” rating and upped their price target for the stock from $50.00 to $65.00 in a research note on Tuesday, February 12th. Wedbush reaffirmed a “hold” rating and issued a $48.00 price target on shares of Docusign in a research note on Friday, June 7th. William Blair reiterated an “outperform” rating on shares of Docusign in a report on Friday, June 7th. Finally, Piper Jaffray Companies upped their price objective on shares of Docusign from $50.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, March 11th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Docusign has a consensus rating of “Buy” and a consensus price target of $61.50.

In other news, CRO Loren Alhadeff sold 8,717 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $56.04, for a total transaction of $488,500.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Scott V. Olrich sold 10,000 shares of Docusign stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $53.40, for a total transaction of $534,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,883 shares of company stock worth $3,177,990. 13.60% of the stock is currently owned by company insiders.

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About Docusign

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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Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Docusign Inc (NASDAQ:DOCU).

Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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