Eaton Vance Management purchased a new stake in Docusign Inc (NASDAQ:DOCU) in the 4th quarter, Holdings Channel reports. The firm purchased 656,210 shares of the company’s stock, valued at approximately $26,301,000.
Several other institutional investors have also made changes to their positions in DOCU. Private Capital Group LLC boosted its holdings in Docusign by 173.0% in the 4th quarter. Private Capital Group LLC now owns 819 shares of the company’s stock worth $33,000 after buying an additional 519 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Docusign by 244.1% in the 4th quarter. Parallel Advisors LLC now owns 905 shares of the company’s stock worth $36,000 after buying an additional 642 shares during the last quarter. Caz Investments LP boosted its holdings in Docusign by 86.6% in the 4th quarter. Caz Investments LP now owns 933 shares of the company’s stock worth $37,000 after buying an additional 433 shares during the last quarter. Cornerstone Advisors Inc. acquired a new stake in Docusign in the 4th quarter worth about $61,000. Finally, Westside Investment Management Inc. acquired a new stake in Docusign in the 4th quarter worth about $70,000. Hedge funds and other institutional investors own 43.32% of the company’s stock.
Several equities research analysts recently issued reports on DOCU shares. KeyCorp started coverage on Docusign in a report on Monday, January 28th. They issued an “overweight” rating and a $59.00 price objective on the stock. Zacks Investment Research cut Docusign from a “hold” rating to a “sell” rating in a report on Friday, January 18th. Goldman Sachs Group started coverage on Docusign in a report on Thursday, December 13th. They issued a “neutral” rating and a $45.00 price objective on the stock. Morgan Stanley upgraded Docusign from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $53.00 in a report on Tuesday, January 15th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $50.00 price objective on shares of Docusign in a report on Friday, December 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Docusign presently has an average rating of “Buy” and a consensus target price of $59.67.
In other news, Director Mary G. Meeker sold 9,646 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $42.98, for a total transaction of $414,585.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith J. Krach sold 51,982 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $40.34, for a total value of $2,096,953.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,037,161 shares of company stock worth $48,420,464.
Shares of Docusign stock opened at $53.83 on Friday. Docusign Inc has a 1-year low of $35.06 and a 1-year high of $68.35. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.53.
Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, December 6th. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The firm had revenue of $178.39 million during the quarter, compared to analyst estimates of $173.55 million. The business’s revenue was up 36.6% compared to the same quarter last year. As a group, research analysts expect that Docusign Inc will post -2.5 earnings per share for the current year.
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Docusign Company Profile
DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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