State Board of Administration of Florida Retirement System Raises Stock Position in Docusign Inc (NASDAQ:DOCU)

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State Board of Administration of Florida Retirement System grew its holdings in Docusign Inc (NASDAQ:DOCU) by 44.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,257 shares of the company’s stock after buying an additional 39,437 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.07% of Docusign worth $6,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Docusign in the 2nd quarter worth $19,663,000. Berkeley Capital Partners LLC purchased a new position in shares of Docusign in the 1st quarter worth $546,000. Emerald Advisers LLC purchased a new position in shares of Docusign in the 1st quarter worth $824,000. Clearbridge Investments LLC grew its stake in shares of Docusign by 8.7% in the 1st quarter. Clearbridge Investments LLC now owns 1,677,883 shares of the company’s stock worth $86,981,000 after buying an additional 134,932 shares in the last quarter. Finally, AGF Investments Inc. grew its stake in shares of Docusign by 8.3% in the 2nd quarter. AGF Investments Inc. now owns 130,000 shares of the company’s stock worth $6,462,000 after buying an additional 10,000 shares in the last quarter. 61.49% of the stock is owned by institutional investors and hedge funds.

DOCU traded down $0.47 on Wednesday, reaching $44.29. 1,841 shares of the company traded hands, compared to its average volume of 1,965,330. Docusign Inc has a one year low of $35.06 and a one year high of $68.35. The firm has a fifty day simple moving average of $49.01 and a two-hundred day simple moving average of $52.52. The company has a market cap of $7.69 billion, a P/E ratio of -15.32 and a beta of 1.31. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.00.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.30. Docusign had a negative net margin of 26.54% and a negative return on equity of 22.27%. The company had revenue of $213.96 million during the quarter, compared to analyst estimates of $208.15 million. During the same quarter last year, the business posted $0.01 EPS. The firm’s revenue for the quarter was up 37.3% on a year-over-year basis. On average, equities analysts forecast that Docusign Inc will post -0.99 earnings per share for the current year.

In other news, insider Kirsten O. Wolberg sold 7,877 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $50.93, for a total value of $401,175.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Solvik sold 541,532 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $51.52, for a total transaction of $27,899,728.64. The disclosure for this sale can be found here. Insiders have sold a total of 570,988 shares of company stock valued at $29,449,981 in the last quarter. 13.60% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Docusign from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. DA Davidson assumed coverage on shares of Docusign in a report on Thursday, August 15th. They issued a “buy” rating and a $52.00 target price for the company. FBN Securities assumed coverage on shares of Docusign in a report on Tuesday, July 9th. They issued an “outperform” rating and a $60.00 target price for the company. William Blair restated an “outperform” rating on shares of Docusign in a report on Friday, June 7th. Finally, Danske assumed coverage on shares of Docusign in a report on Friday, August 16th. They issued a “buy” rating and a $52.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $59.54.

Docusign 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.

Further Reading: Understanding Analyst Recommendations

Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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