Pier 88 Investment Partners LLC Increases Stock Holdings in Docusign Inc (NASDAQ:DOCU)

Pier 88 Investment Partners LLC increased its holdings in Docusign Inc (NASDAQ:DOCU) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,830 shares of the company’s stock after purchasing an additional 570 shares during the period. Pier 88 Investment Partners LLC’s holdings in Docusign were worth $190,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DOCU. Norges Bank bought a new stake in Docusign in the fourth quarter worth $24,230,000. Geode Capital Management LLC lifted its position in Docusign by 33.8% in the fourth quarter. Geode Capital Management LLC now owns 423,417 shares of the company’s stock worth $16,970,000 after buying an additional 106,997 shares during the last quarter. Strs Ohio bought a new stake in Docusign in the first quarter worth $182,000. Hershey Trust Co. lifted its position in Docusign by 2.8% in the first quarter. Hershey Trust Co. now owns 101,901 shares of the company’s stock worth $5,283,000 after buying an additional 2,802 shares during the last quarter. Finally, Jupiter Wealth Management LLC bought a new stake in Docusign in the first quarter worth $316,000. 61.49% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:DOCU traded up $0.16 on Tuesday, hitting $44.70. 49,053 shares of the company’s stock were exchanged, compared to its average volume of 2,038,637. Docusign Inc has a 12 month low of $35.06 and a 12 month high of $68.35. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of -15.42 and a beta of 1.31. The business’s 50 day simple moving average is $50.18 and its two-hundred day simple moving average is $52.76. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.76 and a quick ratio of 1.76.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.30. Docusign had a negative return on equity of 22.27% and a negative net margin of 26.54%. The business had revenue of $213.96 million during the quarter, compared to the consensus estimate of $208.15 million. During the same period last year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up 37.3% compared to the same quarter last year. Equities analysts forecast that Docusign Inc will post -0.99 EPS for the current fiscal year.

DOCU has been the subject of several research analyst reports. Danske initiated coverage on Docusign in a research report on Friday. They set a “buy” rating and a $52.00 target price for the company. FBN Securities initiated coverage on Docusign in a research report on Tuesday, July 9th. They set an “outperform” rating and a $60.00 target price for the company. Zacks Investment Research downgraded Docusign from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. ValuEngine upgraded Docusign from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Finally, Wedbush reiterated a “hold” rating and set a $48.00 target price on shares of Docusign in a research report on Friday, June 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Docusign currently has a consensus rating of “Buy” and a consensus price target of $59.54.

In related news, insider Kirsten O. Wolberg sold 7,877 shares of Docusign stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total value of $401,175.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Solvik sold 541,532 shares of Docusign stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $51.52, for a total value of $27,899,728.64. The disclosure for this sale can be found here. Insiders sold 590,988 shares of company stock valued at $30,533,281 over the last 90 days. 13.60% of the stock is currently owned by corporate insiders.

Docusign Profile

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.

Featured Story: How does a security become overbought?

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Docusign Inc (NASDAQ:DOCU).

Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.