Foundry Partners LLC Takes $553,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Foundry Partners LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,899 shares of the company’s stock, valued at approximately $553,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Inspire Investing LLC purchased a new position in DocuSign during the third quarter worth about $911,000. Comerica Bank boosted its position in shares of DocuSign by 228.8% during the 1st 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. International Assets Investment Management LLC increased its holdings in DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after purchasing an additional 431,295 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after purchasing an additional 85,987 shares during the period. Finally, Carrera Capital Advisors acquired a new position in DocuSign during the third quarter worth $666,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In other DocuSign 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 owns 102,193 shares in the company, valued at $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’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 transaction, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock valued at $4,272,768 over the last three months. 1.66% of the stock is owned by corporate insiders.

DocuSign Trading Up 3.6 %

Shares of DOCU opened at $83.03 on Friday. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 8.41 and a beta of 0.90. The firm’s fifty day simple moving average is $69.47 and its 200-day simple moving average is $60.23. DocuSign, Inc. has a twelve month low of $42.13 and a twelve month high of $83.68.

DocuSign (NASDAQ:DOCU) last posted 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 return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the firm earned $0.09 earnings per share. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research reports. JMP Securities lifted their price objective on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday. Robert W. Baird lifted their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $65.80.

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.