Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Docusign Inc (NASDAQ:DOCU) by 57.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,638 shares of the company’s stock after purchasing an additional 28,183 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Docusign were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Sonora Investment Management LLC purchased a new stake in shares of Docusign in the first quarter worth about $31,000. Clean Yield Group bought a new position in Docusign in the 1st quarter valued at $31,000. Private Capital Group LLC grew its position in Docusign by 173.0% in the 4th quarter. Private Capital Group LLC now owns 819 shares of the company’s stock valued at $33,000 after acquiring an additional 519 shares during the last quarter. Parallel Advisors LLC grew its position in Docusign by 244.1% in the 4th quarter. Parallel Advisors LLC now owns 905 shares of the company’s stock valued at $36,000 after acquiring an additional 642 shares during the last quarter. Finally, Caz Investments LP grew its position in Docusign by 86.6% in the 4th quarter. Caz Investments LP now owns 933 shares of the company’s stock valued at $37,000 after acquiring an additional 433 shares during the last quarter. 53.08% of the stock is owned by institutional investors and hedge funds.
Shares of DOCU traded down $0.41 during midday trading on Friday, reaching $54.33. 12,132 shares of the stock were exchanged, compared to its average volume of 1,562,964. Docusign Inc has a 52 week low of $35.06 and a 52 week high of $68.35. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $9.49 billion and a price-to-earnings ratio of -18.74.
Several equities analysts have commented on the company. Zacks Investment Research downgraded Docusign from a “hold” rating to a “sell” rating in a research report on Friday, January 18th. ValuEngine downgraded Docusign from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Deutsche Bank raised Docusign from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $65.00 in a research report on Tuesday, February 12th. KeyCorp assumed coverage on Docusign in a research report on Monday, January 28th. They issued an “overweight” rating and a $59.00 price objective on the stock. Finally, Piper Jaffray Companies upped their price objective on Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $61.75.
In related news, CRO Loren Alhadeff sold 8,717 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $56.04, for a total transaction of $488,500.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott V. Olrich sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $53.39, for a total value of $533,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 40,883 shares of company stock worth $2,212,890 in the last three months. Corporate insiders own 13.60% of the company’s stock.
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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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