Mitchell Mcleod Pugh & Williams Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,491 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in DocuSign by 2.4% during the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock worth $881,260,000 after purchasing an additional 482,472 shares during the period. AQR Capital Management LLC raised its position in shares of DocuSign by 147.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after buying an additional 1,136,948 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in DocuSign by 166.4% in the third quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock valued at $56,478,000 after acquiring an additional 839,883 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in DocuSign by 77.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock valued at $51,057,000 after acquiring an additional 531,682 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in DocuSign by 32.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 724,314 shares of the company’s stock worth $30,421,000 after acquiring an additional 178,299 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Friday, April 12th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $48.00 to $62.00 in a research report on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus target price of $60.25.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,680 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the sale, the chief executive officer now directly owns 111,767 shares of the company’s stock, valued at $6,847,964.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the director now owns 783 shares of the company’s stock, valued at approximately $46,980. The disclosure for this sale can be found here. Insiders sold 54,871 shares of company stock valued at $3,176,199 in the last ninety days. Insiders own 17.80% of the company’s stock.

DocuSign Stock Down 0.2 %

Shares of NASDAQ:DOCU opened at $57.10 on Tuesday. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 158.62, a price-to-earnings-growth ratio of 4.94 and a beta of 0.89. The firm’s 50 day moving average price is $56.62 and its 200 day moving average price is $52.91.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. On average, equities analysts anticipate that DocuSign, Inc. will post 0.87 EPS 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.