Summit Global Investments Acquires 575 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Summit Global Investments raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,305 shares of the company’s stock after purchasing an additional 575 shares during the quarter. Summit Global Investments’ holdings in DocuSign were worth $702,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its holdings in DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. grew its position in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at about $47,000. nVerses Capital LLC acquired a new stake in shares of DocuSign in the 2nd quarter valued at approximately $48,000. Finally, Quarry LP bought a new position in DocuSign during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The stock was 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 approximately $3,923,684.08. The trade was 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. In other news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 transaction, the insider now owns 70,748 shares in the company, valued at approximately $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 sold a total of 69,558 shares of company stock worth $4,272,768 in the last three months. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Bank of America increased their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Robert W. Baird lifted their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.40.

DocuSign Stock Performance

NASDAQ DOCU opened at $79.38 on Friday. DocuSign, Inc. has a 52 week low of $39.65 and a 52 week high of $79.50. The stock’s 50 day moving average price is $64.76 and its two-hundred day moving average price is $58.65. The stock has a market capitalization of $16.11 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 7.99 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business 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 for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current year.

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.