Freedom Investment Management Inc. Makes New $201,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Freedom Investment Management Inc. purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,245 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC acquired a new position in shares of DocuSign in the third quarter worth $911,000. Charles Schwab Investment Management Inc. increased its position in DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares in the last quarter. Comerica Bank raised its stake in DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after purchasing an additional 20,110 shares during the last quarter. International Assets Investment Management LLC lifted 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of DocuSign by 7.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 0.9 %

Shares of DOCU stock opened at $79.69 on Monday. DocuSign, Inc. has a fifty-two week low of $42.76 and a fifty-two week high of $86.75. The firm’s 50 day moving average price is $71.99 and its two-hundred day moving average price is $61.08. The stock has a market cap of $16.17 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 8.25 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results 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. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the company earned $0.09 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that DocuSign, Inc. will post 1.03 EPS for the current fiscal year.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DOCU. Wells Fargo & Company boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Citigroup upped their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $65.80.

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.