Beck Capital Management LLC Increases Stake in DocuSign, Inc. (NASDAQ:DOCU)

Beck Capital Management LLC raised its stake in DocuSign, Inc. (NASDAQ:DOCU) by 6.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,485 shares of the company’s stock after purchasing an additional 547 shares during the quarter. Beck Capital Management LLC’s holdings in DocuSign were worth $527,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DOCU. Comerica Bank boosted its position in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares during the period. Cetera Investment Advisers boosted its holdings in shares of DocuSign by 455.7% during the first quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock worth $2,722,000 after purchasing an additional 37,484 shares during the period. Cetera Advisors LLC grew its stake in shares of DocuSign by 38.0% in the first quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock worth $766,000 after purchasing an additional 3,542 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Finally, DNB Asset Management AS increased its holdings in DocuSign by 16.1% during the 2nd quarter. DNB Asset Management AS now owns 33,600 shares of the company’s stock valued at $1,798,000 after purchasing an additional 4,668 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value 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 $6,038,584.37. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,558 shares of company stock valued at $4,272,768. Insiders own 1.66% of the company’s stock.

DocuSign Stock Down 0.9 %

Shares of DOCU opened at $79.69 on Monday. The stock has a market cap of $16.17 billion, a P/E ratio of 16.81, a P/E/G ratio of 8.25 and a beta of 0.90. The business’s 50 day moving average price is $71.99 and its 200-day moving average price is $61.08. DocuSign, Inc. has a 52 week low of $42.76 and a 52 week high of $86.75.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for 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%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts anticipate that DocuSign, Inc. will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DOCU shares. Royal Bank of Canada lifted their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America upped their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, JMP Securities increased their price target on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Company Profile

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.