Oppenheimer & Co. Inc. Reduces Stake in Docusign Inc (DOCU)

Oppenheimer & Co. Inc. reduced its position in Docusign Inc (NASDAQ:DOCU) by 9.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,323 shares of the company’s stock after selling 1,056 shares during the period. Oppenheimer & Co. Inc.’s holdings in Docusign were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in DOCU. FMR LLC acquired a new stake in shares of Docusign in the 2nd quarter valued at $158,068,000. Raymond James & Associates acquired a new stake in shares of Docusign in the 2nd quarter valued at $1,601,000. Voya Investment Management LLC acquired a new stake in shares of Docusign in the 2nd quarter valued at $417,000. Bank of America Corp DE acquired a new stake in shares of Docusign in the 2nd quarter valued at $836,000. Finally, Millennium Management LLC acquired a new stake in shares of Docusign in the 2nd quarter valued at $2,160,000. Hedge funds and other institutional investors own 37.31% of the company’s stock.

A number of research analysts recently issued reports on DOCU shares. Zacks Investment Research raised Docusign from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. KeyCorp started coverage on Docusign in a report on Monday, January 28th. They issued an “overweight” rating and a $59.00 price target for the company. Morgan Stanley raised Docusign from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $53.00 in a report on Tuesday, January 15th. Goldman Sachs Group started coverage on Docusign in a report on Thursday, December 13th. They issued a “neutral” rating and a $45.00 price target for the company. Finally, Deutsche Bank cut their price target on Docusign to $50.00 and set a “hold” rating for the company in a report on Friday, December 7th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $58.42.

In other Docusign 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 legal filing with the Securities & Exchange Commission, which is available through this link. 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. Insiders have sold a total of 1,037,161 shares of company stock valued at $48,420,464 over the last three months.

Shares of NASDAQ:DOCU opened at $51.77 on Monday. 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 announced its quarterly earnings data 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 business had revenue of $178.39 million during the quarter, compared to analysts’ expectations of $173.55 million. Docusign’s revenue was up 36.6% compared to the same quarter last year. Equities analysts expect that Docusign Inc will post -2.5 EPS for the current fiscal year.

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Docusign 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.

Further Reading: Growth Stocks

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Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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