QRG Capital Management Inc. Purchases Shares of 31,175 DocuSign, Inc. (NASDAQ:DOCU)

QRG Capital Management Inc. purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, Holdings Channel reports. The fund purchased 31,175 shares of the company’s stock, valued at approximately $1,936,000.

Other large investors have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. raised its position in DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after purchasing an additional 155 shares during the period. Resonant Capital Advisors LLC lifted its stake in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after acquiring an additional 157 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after acquiring an additional 172 shares in the last quarter. Dakota Wealth Management boosted its holdings in DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after acquiring an additional 181 shares during the period. Finally, Sovereign Financial Group Inc. grew its position in DocuSign by 4.3% in the 3rd quarter. Sovereign Financial Group Inc. now owns 4,487 shares of the company’s stock valued at $279,000 after acquiring an additional 184 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the transaction, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Robert Chatwani sold 14,799 shares of the company’s 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 completion of the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock worth $4,272,768 in the last ninety days. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Performance

DOCU opened at $76.47 on Friday. DocuSign, Inc. has a one year low of $39.65 and a one year high of $76.94. The company has a market cap of $15.52 billion, a P/E ratio of 16.13, a PEG ratio of 7.39 and a beta of 0.90. The business’s 50-day simple moving average is $64.01 and its 200-day simple moving average is $58.36.

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. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Citigroup raised their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $63.40.

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.