Sage Rhino Capital LLC Takes Position in Docusign Inc (DOCU)

Sage Rhino Capital LLC bought a new position in Docusign Inc (NASDAQ:DOCU) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 139,588 shares of the company’s stock, valued at approximately $7,236,000. Docusign comprises about 4.8% of Sage Rhino Capital LLC’s investment portfolio, making the stock its 4th largest position. Sage Rhino Capital LLC owned 0.08% of Docusign as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of Docusign in the 1st quarter worth approximately $66,000. Sciencast Management LP acquired a new stake in Docusign during the first quarter valued at approximately $430,000. Virtu Financial LLC acquired a new stake in Docusign during the first quarter valued at approximately $1,202,000. Valeo Financial Advisors LLC lifted its stake in Docusign by 11.3% during the first quarter. Valeo Financial Advisors LLC now owns 3,300 shares of the company’s stock valued at $171,000 after purchasing an additional 335 shares during the last quarter. Finally, Edge Wealth Management LLC lifted its stake in Docusign by 34.4% during the first quarter. Edge Wealth Management LLC now owns 56,622 shares of the company’s stock valued at $2,942,000 after purchasing an additional 14,484 shares during the last quarter. 52.71% of the stock is owned by institutional investors.

In other news, insider Kirsten O. Wolberg sold 10,166 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $52.95, for a total transaction of $538,289.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Scott V. Olrich sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $53.39, for a total transaction of $533,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,883 shares of company stock worth $2,212,890.

Several research firms recently commented on DOCU. ValuEngine lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Wedbush increased their target price on shares of Docusign from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Piper Jaffray Companies increased their target price on shares of Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. Deutsche Bank raised shares of Docusign from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $65.00 in a research note on Tuesday, February 12th. Finally, Zacks Investment Research raised shares of Docusign from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.75.

Docusign stock traded down $0.45 during trading hours on Friday, hitting $53.05. The company had a trading volume of 1,270,035 shares, compared to its average volume of 1,587,127. The firm has a market cap of $9.27 billion and a PE ratio of -18.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.91 and a current ratio of 1.91. Docusign Inc has a fifty-two week low of $35.06 and a fifty-two week high of $68.35.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). The company had revenue of $199.73 million during the quarter, compared to analyst estimates of $193.63 million. Docusign had a negative net margin of 60.84% and a negative return on equity of 86.06%. The company’s revenue was up 34.2% on a year-over-year basis. Equities analysts anticipate that Docusign Inc will post -1 EPS for the current fiscal year.

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Docusign Company 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.

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Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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