Edge Wealth Management LLC Takes $1.69 Million Position in Docusign Inc (DOCU)
Edge Wealth Management LLC acquired a new stake in Docusign Inc (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 42,138 shares of the company’s stock, valued at approximately $1,689,000.
Several other large investors also recently added to or reduced their stakes in the company. Opera Trading Capital purchased a new position in Docusign during the 3rd quarter worth $101,000. Valeo Financial Advisors LLC boosted its holdings in Docusign by 914.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,790 shares of the company’s stock worth $117,000 after acquiring an additional 2,515 shares during the last quarter. BKS Advisors LLC purchased a new position in Docusign during the 3rd quarter worth $236,000. California Public Employees Retirement System purchased a new position in Docusign during the 2nd quarter worth $263,000. Finally, Levin Capital Strategies L.P. purchased a new position in Docusign during the 3rd quarter worth $263,000. Institutional investors own 37.06% of the company’s stock.
In other news, Director Keith J. Krach sold 34,340 shares of the business’s stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $42.25, for a total transaction of $1,450,865.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary G. Meeker sold 9,646 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $42.98, for a total value of $414,585.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,166 shares of company stock worth $13,469,571.
Docusign (NASDAQ:DOCU) last announced its quarterly 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 analysts’ expectations of $173.55 million. The company’s revenue was up 36.6% compared to the same quarter last year. On average, sell-side analysts predict that Docusign Inc will post -2.5 earnings per share for the current year.
A number of brokerages recently weighed in on DOCU. Zacks Investment Research downgraded shares of Docusign from a “hold” rating to a “sell” rating in a report on Thursday, December 27th. Deutsche Bank cut their price target on shares of Docusign to $50.00 and set a “hold” rating on the stock in a report on Friday, December 7th. Piper Jaffray Companies reissued an “overweight” rating and issued a $50.00 price target on shares of Docusign in a report on Friday, December 7th. Goldman Sachs Group began coverage on shares of Docusign in a report on Thursday, December 13th. They issued a “neutral” rating and a $45.00 price target on the stock. Finally, Morgan Stanley reissued a “hold” rating on shares of Docusign in a report on Sunday, December 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $58.27.
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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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