Integrated Investment Consultants LLC Takes $3.71 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Integrated Investment Consultants LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 59,760 shares of the company’s stock, valued at approximately $3,710,000.

Other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its position in shares of DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Mather Group LLC. boosted its holdings in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the third quarter worth $47,000. nVerses Capital LLC bought a new stake in shares of DocuSign in the 2nd quarter worth about $48,000. Finally, Quarry LP bought a new stake in DocuSign in the second quarter valued at about $53,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the 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 sale, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 in the last three months. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Robert W. Baird increased their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.40.

DocuSign Stock Down 0.9 %

Shares of DOCU stock opened at $78.81 on Thursday. The firm has a fifty day moving average of $68.47 and a 200-day moving average of $59.93. DocuSign, Inc. has a 12-month low of $42.12 and a 12-month high of $83.68. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 8.41 and a beta of 0.90.

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

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.