Sovereign Financial Group Inc. Buys 184 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sovereign Financial Group Inc. increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,487 shares of the company’s stock after acquiring an additional 184 shares during the period. Sovereign Financial Group Inc.’s holdings in DocuSign were worth $279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its stake 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 acquiring an additional 500 shares in the last quarter. Mather Group LLC. grew its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of DocuSign during the 1st quarter worth about $37,000. nVerses Capital LLC acquired a new stake in shares of DocuSign during the 2nd quarter worth about $48,000. Finally, Quarry LP bought a new position in DocuSign during the 2nd quarter valued at about $53,000. Institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $69.25 on Thursday. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $69.36. The firm has a 50-day moving average of $57.37 and a two-hundred day moving average of $56.59. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 133.17, a price-to-earnings-growth ratio of 6.37 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, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during 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 firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Research analysts expect that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,648 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the sale, the chief executive officer now owns 115,589 shares of the company’s stock, valued at approximately $7,220,844.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Allan C. Thygesen sold 7,648 shares of DocuSign stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares of the company’s stock, valued at $7,220,844.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the sale, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,502 shares of company stock worth $21,963,248 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

DOCU has been the subject of several research analyst reports. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.40.

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.