Lecap Asset Management Ltd. Has $3.28 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Lecap Asset Management Ltd. lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 312.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,858 shares of the company’s stock after purchasing an additional 40,037 shares during the period. Lecap Asset Management Ltd.’s holdings in DocuSign were worth $3,282,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DOCU. Inspire Investing LLC acquired a new stake in shares of DocuSign in the 3rd quarter valued at $911,000. Comerica Bank increased its position in DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the period. Retirement Systems of Alabama bought a new stake in DocuSign during the 1st quarter worth about $8,700,000. PGGM Investments lifted its position in DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after purchasing an additional 13,379 shares during the period. Finally, Claro Advisors LLC acquired a new position in DocuSign during the 3rd quarter valued at about $727,000. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DOCU. Royal Bank of Canada boosted their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Robert W. Baird increased their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Bank of America increased their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $63.40.

DocuSign Price Performance

NASDAQ:DOCU opened at $70.68 on Wednesday. The business’s 50-day simple moving average is $61.05 and its 200-day simple moving average is $57.41. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $73.80. The stock has a market capitalization of $14.47 billion, a PE ratio of 135.92, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

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

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the sale, the chief financial officer now directly owns 78,265 shares in the company, valued at $5,384,632. 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 available at the SEC website. In related news, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the transaction, the insider now owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 427,554 shares of company stock worth $23,129,150. Corporate insiders own 1.66% of the company’s stock.

DocuSign 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.