LaFleur & Godfrey LLC purchased a new position in Docusign Inc (NASDAQ:DOCU) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,365 shares of the company’s stock, valued at approximately $118,000.
Several other institutional investors and hedge funds also recently modified their holdings of DOCU. BlackRock Inc. boosted its position in shares of Docusign by 98.2% in the 2nd quarter. BlackRock Inc. now owns 5,122,761 shares of the company’s stock worth $254,654,000 after purchasing an additional 2,537,764 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Docusign by 173.7% in the 1st quarter. Wells Fargo & Company MN now owns 2,018,927 shares of the company’s stock worth $104,661,000 after purchasing an additional 1,281,178 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Docusign in the 1st quarter worth approximately $62,829,000. Morgan Stanley boosted its position in shares of Docusign by 73.7% in the 2nd quarter. Morgan Stanley now owns 2,440,441 shares of the company’s stock worth $121,314,000 after purchasing an additional 1,035,506 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Docusign by 12.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,324,340 shares of the company’s stock worth $413,804,000 after purchasing an additional 950,343 shares in the last quarter. 68.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on DOCU shares. Citigroup boosted their price target on Docusign from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. FBN Securities set a $65.00 price target on Docusign and gave the stock a “buy” rating in a research report on Friday, September 6th. DA Davidson boosted their price target on Docusign to $63.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada assumed coverage on shares of Docusign in a report on Friday, September 6th. They issued an “outperform” rating and a $75.00 price objective for the company. Finally, Wedbush upgraded shares of Docusign from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $48.00 to $65.00 in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $65.07.
Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.24. Docusign had a negative net margin of 28.20% and a negative return on equity of 26.70%. The company had revenue of $235.61 million during the quarter, compared to analyst estimates of $220.81 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. As a group, equities analysts expect that Docusign Inc will post -1.04 earnings per share for the current fiscal year.
In related news, COO Scott V. Olrich sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $58.98, for a total value of $235,920.00. Also, insider Kirsten O. Wolberg sold 7,877 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $50.93, for a total transaction of $401,175.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 590,230 shares of company stock valued at $30,659,814. 13.60% of the stock is owned by company insiders.
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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