Thurston Springer Miller Herd & Titak Inc. Boosts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Thurston Springer Miller Herd & Titak Inc. grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 27.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,721 shares of the company’s stock after buying an additional 367 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in DocuSign were worth $107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gilman Hill Asset Management LLC increased its position in shares of DocuSign by 3.7% in the third quarter. Gilman Hill Asset Management LLC now owns 82,447 shares of the company’s stock valued at $5,119,000 after buying an additional 2,960 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of DocuSign by 2,689.1% during the third quarter. Exchange Traded Concepts LLC now owns 3,849 shares of the company’s stock worth $239,000 after purchasing an additional 3,711 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of DocuSign during the third quarter worth approximately $911,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of DocuSign by 400.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,500 shares of the company’s stock worth $93,000 after purchasing an additional 1,200 shares in the last quarter. Finally, CWM LLC increased its position in shares of DocuSign by 3.0% during the third quarter. CWM LLC now owns 32,027 shares of the company’s stock worth $1,989,000 after purchasing an additional 945 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Up 1.7 %

Shares of DocuSign stock opened at $70.04 on Wednesday. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $70.19. The business’s fifty day simple moving average is $59.07 and its 200-day simple moving average is $56.96. The firm has a market cap of $14.34 billion, a PE ratio of 134.69, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

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

Analysts Set New Price Targets

Several analysts recently commented on DOCU shares. Wells Fargo & Company boosted their price target on 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 reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America boosted their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.40.

Insider Activity

In other news, Director Daniel D. Springer sold 287,052 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the transaction, the director now owns 923,445 shares of the company’s stock, valued at $49,662,872.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the sale, the chief executive officer now owns 109,918 shares in the company, valued at approximately $6,033,399.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the sale, the director now owns 923,445 shares in the company, valued at $49,662,872.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 418,002 shares of company stock valued at $22,471,973 in the last quarter. Insiders own 1.66% of the company’s stock.

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.