Park Avenue Securities LLC Acquires New Position in DocuSign, Inc. (NASDAQ:DOCU)

Park Avenue Securities LLC purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,726 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors have also recently made changes to their positions in DOCU. Comerica Bank grew its holdings in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the period. Vanguard Group Inc. boosted its position in shares of DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after buying an additional 417,352 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of DocuSign in the first quarter valued at $8,700,000. PGGM Investments raised its holdings in shares of DocuSign by 36.7% in the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after buying an additional 13,379 shares during the period. Finally, Advisory Services Network LLC lifted its stake in DocuSign by 77.8% during the 1st quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock worth $3,364,000 after acquiring an additional 24,718 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the sale, the insider now owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 418,002 shares of company stock worth $22,471,973 in the last three months. Insiders own 1.66% of the company’s stock.

DocuSign Trading Down 0.0 %

Shares of DOCU opened at $68.86 on Tuesday. The company’s 50 day simple moving average is $58.69 and its 200-day simple moving average is $56.88. The firm has a market cap of $14.10 billion, a PE ratio of 132.42, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $70.19.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DOCU. Bank of America raised their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Wells Fargo & Company increased their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Citigroup lifted their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Robert W. Baird increased their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock 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.