CIBC Asset Management Inc Purchases 372 Shares of DocuSign, Inc. (NASDAQ:DOCU)

CIBC Asset Management Inc lifted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,293 shares of the company’s stock after acquiring an additional 372 shares during the quarter. CIBC Asset Management Inc’s holdings in DocuSign were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCU. American Century Companies Inc. raised its stake in shares of DocuSign by 1.9% during the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after acquiring an additional 75,026 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares during the period. Pacer Advisors Inc. grew its position in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after buying an additional 1,541,816 shares during the last quarter. Jericho Capital Asset Management L.P. increased its stake in shares of DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after buying an additional 2,597,489 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of DocuSign by 4.1% during the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock worth $156,265,000 after acquiring an additional 115,616 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 over the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $80.18 on Friday. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68. The business’s 50 day simple moving average is $68.94 and its two-hundred day simple moving average is $60.07. The firm has a market cap of $16.27 billion, a P/E ratio of 16.92, a PEG ratio of 8.41 and a beta of 0.90.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on DOCU. Citigroup upped their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of 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 reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Robert W. Baird increased their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Bank of America boosted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.40.

DocuSign Company 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.