19,163 Shares in DocuSign, Inc. (NASDAQ:DOCU) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, Holdings Channel reports. The fund purchased 19,163 shares of the company’s stock, valued at approximately $1,190,000.

A number of other institutional investors also recently added to or reduced their stakes in DOCU. Comerica Bank lifted its stake 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 acquiring an additional 20,110 shares during the last quarter. Cetera Investment Advisers lifted its stake in DocuSign by 455.7% in the first quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock worth $2,722,000 after acquiring an additional 37,484 shares during the last quarter. Cetera Advisors LLC raised its holdings in DocuSign by 38.0% during 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 in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in DocuSign by 16.1% during the second quarter. DNB Asset Management AS now owns 33,600 shares of the company’s stock worth $1,798,000 after purchasing an additional 4,668 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Robert W. Baird raised their price objective on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America raised 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. JMP Securities raised their price objective on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group raised their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $70.73.

Insider Activity at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the sale, the insider now directly owns 43,301 shares in the company, valued at approximately $2,937,106.83. The trade was a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the business’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 sale, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 in the last three months. Insiders own 1.66% of the company’s stock.

DocuSign Price Performance

NASDAQ:DOCU opened at $83.99 on Thursday. The firm’s fifty day moving average price is $73.33 and its 200 day moving average price is $61.52. DocuSign, Inc. has a 1-year low of $44.34 and a 1-year high of $86.75. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 8.31 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data 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 period last year, the firm posted $0.09 EPS. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that DocuSign, Inc. will post 1.03 earnings per share for the current fiscal year.

About DocuSign

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.