ETRADE Capital Management LLC Purchases New Holdings in Docusign Inc (NASDAQ:DOCU)

25 May 2020, 13:08 by Mitch Edgeman

ETRADE Capital Management LLC acquired a new stake in Docusign Inc (NASDAQ:DOCU) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,364 shares of the company’s stock, valued at approximately $496,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Docusign during the fourth quarter valued at about $2,242,000. Cetera Advisors LLC raised its holdings in shares of Docusign by 5.0% in the 1st quarter. Cetera Advisors LLC now owns 2,858 shares of the company’s stock worth $264,000 after purchasing an additional 137 shares during the period. Ellevest Inc. grew its holdings in Docusign by 65.6% during the first quarter. Ellevest Inc. now owns 361 shares of the company’s stock valued at $33,000 after purchasing an additional 143 shares during the period. Standard Life Aberdeen plc raised its stake in shares of Docusign by 2.5% in the fourth quarter. Standard Life Aberdeen plc now owns 5,967 shares of the company’s stock valued at $442,000 after buying an additional 148 shares during the period. Finally, Cornerstone Advisors Inc. lifted its position in shares of Docusign by 4.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 3,139 shares of the company’s stock valued at $290,000 after buying an additional 148 shares during the last quarter. Institutional investors own 79.16% of the company’s stock.

NASDAQ DOCU opened at $133.00 on Monday. The firm has a market cap of $24.36 billion, a PE ratio of -112.71 and a beta of 0.70. Docusign Inc has a 1-year low of $43.13 and a 1-year high of $136.29. The stock has a 50-day moving average of $104.99 and a 200-day moving average of $83.72. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.15.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.07. The business had revenue of $274.90 million for the quarter, compared to analysts’ expectations of $266.48 million. Docusign had a negative return on equity of 27.13% and a negative net margin of 21.39%. The business’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. As a group, equities research analysts forecast that Docusign Inc will post -0.91 earnings per share for the current fiscal year.

In other news, COO Scott V. Olrich sold 2,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $76.96, for a total transaction of $153,920.00. Following the completion of the sale, the chief operating officer now directly owns 477,339 shares in the company, valued at $36,736,009.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Enrique T. Salem sold 372,351 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $78.60, for a total value of $29,266,788.60. Following the completion of the sale, the director now directly owns 65,494 shares in the company, valued at $5,147,828.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 798,642 shares of company stock worth $67,997,755. 5.06% of the stock is owned by insiders.

Several research firms have recently weighed in on DOCU. Royal Bank of Canada lifted their target price on shares of Docusign from $85.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday. BidaskClub raised Docusign from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 16th. ValuEngine upgraded Docusign from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Deutsche Bank upped their target price on shares of Docusign from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Finally, Wedbush boosted their price target on shares of Docusign from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $95.31.

About Docusign

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.