RMB Capital Management LLC Acquires 1,106 Shares of DocuSign, Inc. (NASDAQ:DOCU)

RMB Capital Management LLC increased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 25.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,523 shares of the company’s stock after buying an additional 1,106 shares during the quarter. RMB Capital Management LLC’s holdings in DocuSign were worth $1,118,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Elo Mutual Pension Insurance Co lifted its position in shares of DocuSign by 2.4% during the 1st quarter. Elo Mutual Pension Insurance Co now owns 12,691 shares of the company’s stock worth $2,569,000 after buying an additional 296 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of DocuSign by 5.8% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 1,703 shares of the company’s stock worth $345,000 after buying an additional 93 shares during the last quarter. Essex Financial Services Inc. bought a new stake in shares of DocuSign during the 1st quarter worth $261,000. Holderness Investments Co. lifted its position in shares of DocuSign by 9.0% during the 1st quarter. Holderness Investments Co. now owns 1,211 shares of the company’s stock worth $245,000 after buying an additional 100 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of DocuSign by 9.6% during the 1st quarter. Teacher Retirement System of Texas now owns 36,897 shares of the company’s stock worth $7,470,000 after buying an additional 3,224 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

NASDAQ DOCU opened at $243.08 on Friday. The business’s 50 day simple moving average is $210.26. DocuSign, Inc. has a one year low of $144.29 and a one year high of $290.23. The firm has a market capitalization of $47.36 billion, a PE ratio of -225.07 and a beta of 0.82. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 3.05.

DocuSign (NASDAQ:DOCU) last released its earnings results on Wednesday, June 2nd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. DocuSign had a negative return on equity of 26.53% and a negative net margin of 12.54%. The business had revenue of $469.08 million during the quarter, compared to analysts’ expectations of $437.66 million. During the same quarter last year, the firm posted $0.12 earnings per share. The firm’s revenue was up 57.9% on a year-over-year basis. As a group, sell-side analysts predict that DocuSign, Inc. will post -0.32 earnings per share for the current year.

In other DocuSign news, COO Scott V. Olrich sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $242.75, for a total value of $3,034,375.00. Following the completion of the sale, the chief operating officer now owns 219,430 shares of the company’s stock, valued at $53,266,632.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott V. Olrich sold 13,335 shares of the firm’s stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $192.51, for a total value of $2,567,120.85. Following the completion of the sale, the chief operating officer now directly owns 219,430 shares of the company’s stock, valued at approximately $42,242,469.30. The disclosure for this sale can be found here. Insiders have sold 63,287 shares of company stock valued at $13,953,658 in the last ninety days. 3.87% of the stock is currently owned by insiders.

Several analysts recently weighed in on DOCU shares. Wells Fargo & Company upped their price objective on DocuSign from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, June 4th. Daiwa Capital Markets began coverage on DocuSign in a research report on Monday, March 29th. They issued a “buy” rating and a $239.00 target price for the company. Robert W. Baird reiterated a “buy” rating and issued a $280.00 target price on shares of DocuSign in a research report on Friday, March 12th. Wolfe Research began coverage on DocuSign in a research report on Thursday, April 22nd. They issued an “outperform” rating and a $275.00 target price for the company. Finally, Oppenheimer dropped their target price on DocuSign from $300.00 to $260.00 and set an “outperform” rating for the company in a research report on Friday, June 4th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $269.00.

DocuSign Company Profile

DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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