Philip James Wealth Mangement LLC Acquires New Position in DocuSign, Inc. (NASDAQ:DOCU)

Philip James Wealth Mangement LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, Holdings Channel.com reports. The institutional investor bought 5,970 shares of the company’s stock, valued at approximately $371,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jericho Capital Asset Management L.P. boosted its stake in DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after buying an additional 2,597,489 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of DocuSign during the 2nd quarter valued at about $115,795,000. Pacer Advisors Inc. grew its holdings in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. Renaissance Technologies LLC grew its holdings in shares of DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after purchasing an additional 521,292 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on DOCU shares. Citigroup boosted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Royal Bank of Canada upped their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.40.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the transaction, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Allan C. Thygesen sold 7,648 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the sale, the chief executive officer now directly owns 115,589 shares of the company’s stock, valued at $7,220,844.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Up 1.4 %

DocuSign stock traded up $1.05 during mid-day trading on Friday, reaching $77.52. 202,411 shares of the company’s stock were exchanged, compared to its average volume of 2,880,873. The company has a fifty day moving average of $64.01 and a 200-day moving average of $58.36. The company has a market cap of $15.73 billion, a P/E ratio of 16.13, a P/E/G ratio of 7.39 and a beta of 0.90. DocuSign, Inc. has a twelve month low of $39.65 and a twelve month high of $77.61.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. Equities research analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.