Docusign (NASDAQ:DOCU) Shares Gap Down to $62.49

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Docusign Inc (NASDAQ:DOCU)’s share price gapped down prior to trading on Monday . The stock had previously closed at $63.93, but opened at $62.49. Docusign shares last traded at $61.88, with a volume of 4,149,941 shares.

A number of brokerages have recently commented on DOCU. KeyCorp set a $65.00 target price on Docusign and gave the stock a “buy” rating in a report on Friday, September 6th. Citigroup lifted their target price on Docusign from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Morgan Stanley lifted their target price on Docusign from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. William Blair reiterated an “outperform” rating on shares of Docusign in a report on Friday, June 7th. Finally, Royal Bank of Canada began coverage on Docusign in a report on Friday, September 6th. They issued an “outperform” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.07.

The company has a current ratio of 1.64, a quick ratio of 1.76 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $11.08 billion, a P/E ratio of -21.34 and a beta of 1.37. The stock has a 50 day moving average of $49.17 and a 200-day moving average of $52.53.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.24. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The firm had revenue of $235.61 million during the quarter, compared to analyst estimates of $220.81 million. During the same period last year, the company earned $0.03 EPS. Docusign’s quarterly revenue was up 41.0% compared to the same quarter last year. Research analysts anticipate that Docusign Inc will post -1.04 EPS for the current year.

In related news, insider Kirsten O. Wolberg sold 7,877 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total transaction of $401,175.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Scott V. Olrich sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $58.98, for a total value of $235,920.00. Insiders have sold a total of 590,988 shares of company stock valued at $30,606,261 over the last three months. 13.60% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Docusign during the 2nd quarter valued at $19,663,000. GAM Holding AG raised its position in Docusign by 63.3% during the 2nd quarter. GAM Holding AG now owns 106,187 shares of the company’s stock valued at $5,279,000 after purchasing an additional 41,166 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Docusign during the 2nd quarter valued at $3,503,000. Clearbridge Investments LLC raised its position in Docusign by 8.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,677,883 shares of the company’s stock valued at $86,981,000 after purchasing an additional 134,932 shares in the last quarter. Finally, AGF Investments Inc. raised its position in Docusign by 8.3% during the 2nd quarter. AGF Investments Inc. now owns 130,000 shares of the company’s stock valued at $6,462,000 after purchasing an additional 10,000 shares in the last quarter. 68.79% of the stock is owned by hedge funds and other institutional investors.

Docusign Company Profile (NASDAQ:DOCU)

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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