Parallel Advisors LLC Has $3.50 Million Stake in Docusign Inc (NASDAQ:DOCU)

Share on StockTwits

Parallel Advisors LLC raised its position in shares of Docusign Inc (NASDAQ:DOCU) by 63.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,273 shares of the company’s stock after buying an additional 6,299 shares during the period. Parallel Advisors LLC’s holdings in Docusign were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stephenson National Bank & Trust purchased a new position in shares of Docusign in the third quarter worth $53,000. Usca Ria LLC increased its position in Docusign by 1.8% during the 3rd quarter. Usca Ria LLC now owns 16,745 shares of the company’s stock valued at $3,604,000 after purchasing an additional 295 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in Docusign by 50.6% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,675 shares of the company’s stock valued at $791,000 after purchasing an additional 1,235 shares during the period. AM Investment Strategies LLC purchased a new position in Docusign during the 3rd quarter valued at $215,000. Finally, Cedar Capital LLC increased its position in Docusign by 21.2% during the 3rd quarter. Cedar Capital LLC now owns 14,946 shares of the company’s stock valued at $3,217,000 after purchasing an additional 2,615 shares during the period. 76.87% of the stock is owned by institutional investors.

Shares of NASDAQ:DOCU traded down $9.47 during midday trading on Friday, reaching $204.18. 112,975 shares of the company were exchanged, compared to its average volume of 4,345,760. Docusign Inc has a fifty-two week low of $64.25 and a fifty-two week high of $290.23. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $216.17 and a two-hundred day simple moving average of $178.77. The firm has a market cap of $39.56 billion, a PE ratio of -184.48 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.38. Docusign had a negative net margin of 17.74% and a negative return on equity of 28.28%. The business had revenue of $342.21 million for the quarter, compared to analyst estimates of $318.55 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. As a group, analysts forecast that Docusign Inc will post -0.9 earnings per share for the current year.

In other Docusign news, COO Scott V. Olrich sold 5,800 shares of Docusign stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $193.08, for a total value of $1,119,864.00. Following the sale, the chief operating officer now directly owns 399,917 shares in the company, valued at approximately $77,215,974.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique T. Salem sold 49,299 shares of Docusign stock in a transaction on Friday, September 18th. The shares were sold at an average price of $191.78, for a total transaction of $9,454,562.22. Following the completion of the sale, the director now owns 166,093 shares in the company, valued at $31,853,315.54. The disclosure for this sale can be found here. Insiders sold a total of 111,698 shares of company stock worth $22,229,708 over the last quarter. Company insiders own 5.06% of the company’s stock.

A number of brokerages have recently commented on DOCU. Morgan Stanley upgraded shares of Docusign from an “equal weight” rating to an “overweight” rating and set a $260.00 target price on the stock in a report on Monday, October 5th. Royal Bank of Canada boosted their target price on shares of Docusign from $230.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, September 4th. BidaskClub upgraded shares of Docusign from a “sell” rating to a “hold” rating in a report on Friday, September 25th. DA Davidson boosted their target price on shares of Docusign from $161.00 to $270.00 in a report on Friday, September 4th. Finally, William Blair restated a “buy” rating on shares of Docusign in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $229.61.

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.

Read More: How is an ETF different from a mutual fund?

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.