Advisory Services Network LLC Acquires New Stake in Docusign Inc (DOCU)

Advisory Services Network LLC acquired a new position in Docusign Inc (NASDAQ:DOCU) in the third quarter, HoldingsChannel reports. The fund acquired 16,492 shares of the company’s stock, valued at approximately $867,000.

Several other institutional investors have also recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in shares of Docusign during the 2nd quarter worth approximately $160,000. Bank of Montreal Can acquired a new position in shares of Docusign during the 2nd quarter worth approximately $145,000. KPCB DGF Associates LLC acquired a new position in shares of Docusign during the 2nd quarter worth approximately $163,591,000. Westpac Banking Corp acquired a new position in shares of Docusign during the 2nd quarter worth approximately $193,000. Finally, Prospera Financial Services Inc acquired a new position in shares of Docusign during the 2nd quarter worth approximately $482,000. Institutional investors and hedge funds own 34.44% of the company’s stock.

DOCU has been the topic of a number of research reports. JMP Securities upped their price objective on Docusign from $63.00 to $68.00 and gave the company a “market outperform” rating in a report on Thursday, September 6th. Zacks Investment Research lowered Docusign from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $88.00 price objective on shares of Docusign in a report on Thursday, September 6th. Morgan Stanley upped their price objective on Docusign from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, September 6th. Finally, Bank of America upped their price objective on Docusign from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $60.60.

In other Docusign news, Director Peter Solvik sold 1,304,348 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of NASDAQ DOCU opened at $44.82 on Friday. Docusign Inc has a one year low of $37.00 and a one year high of $68.35.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Wednesday, September 5th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $167.04 million during the quarter, compared to analyst estimates of $158.70 million. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. Research analysts predict that Docusign Inc will post -2.46 EPS for the current 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.

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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)

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