Pentwater Capital Management LP Sells 10,000 Shares of Docusign Inc (NASDAQ:DOCU)
Pentwater Capital Management LP decreased its position in shares of Docusign Inc (NASDAQ:DOCU) by 20.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,000 shares of the company’s stock after selling 10,000 shares during the quarter. Pentwater Capital Management LP’s holdings in Docusign were worth $1,988,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of Docusign during the 2nd quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Docusign by 261.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock worth $38,000 after acquiring an additional 556 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Docusign by 226.1% during the first quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock valued at $45,000 after purchasing an additional 606 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Docusign during the second quarter valued at approximately $47,000. Finally, Regal Wealth Group Inc. bought a new position in shares of Docusign during the second quarter valued at approximately $50,000. Institutional investors own 68.79% of the company’s stock.
A number of research firms have issued reports on DOCU. Citigroup raised their price target on shares of Docusign from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, September 6th. FBN Securities set a $65.00 price target on shares of Docusign and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada began coverage on shares of Docusign in a research report on Friday, September 6th. They issued an “outperform” rating and a $75.00 target price on the stock. ValuEngine lowered shares of Docusign from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Docusign from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $65.07.
Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.24. The company had revenue of $235.61 million during the quarter, compared to the consensus estimate of $220.81 million. Docusign had a negative net margin of 28.20% and a negative return on equity of 26.70%. Docusign’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. As a group, equities analysts forecast that Docusign Inc will post -1.04 EPS for the current fiscal year.
In other Docusign news, COO Scott V. Olrich sold 4,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $58.98, for a total transaction of $235,920.00. Also, COO Scott V. Olrich sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $59.50, for a total transaction of $119,000.00. In the last 90 days, insiders have sold 579,409 shares of company stock valued at $29,991,184. 13.60% of the stock is owned by insiders.
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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