Brooklyn Investment Group Invests $33,000 in DocuSign, Inc. (NASDAQ:DOCU)

Brooklyn Investment Group purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 527 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds also recently modified their holdings of the stock. J.W. Cole Advisors Inc. raised its holdings in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares during the period. Resonant Capital Advisors LLC raised its holdings in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after purchasing an additional 157 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after purchasing an additional 172 shares during the period. Dakota Wealth Management raised its holdings in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after purchasing an additional 181 shares during the period. Finally, Covestor Ltd raised its holdings in shares of DocuSign by 5.8% in the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after purchasing an additional 182 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In related news, 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 value of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This trade represents a 17.30 % 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 worth $4,272,768. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the topic of a number of research reports. Citigroup lifted their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Robert W. Baird boosted their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JMP Securities boosted their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada boosted their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Performance

DocuSign stock opened at $79.69 on Friday. The stock has a market cap of $16.17 billion, a P/E ratio of 16.81, a PEG ratio of 8.32 and a beta of 0.90. DocuSign, Inc. has a fifty-two week low of $42.76 and a fifty-two week high of $86.75. The firm’s fifty day moving average price is $71.99 and its 200-day moving average price is $61.07.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 net margin of 34.56% and a return on equity of 16.18%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Sell-side analysts predict that DocuSign, Inc. will post 1.03 earnings per share for the current year.

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.