Pathstone Holdings LLC Grows Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Pathstone Holdings LLC boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 137,343 shares of the company’s stock after buying an additional 5,519 shares during the period. Pathstone Holdings LLC’s holdings in DocuSign were worth $8,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of DOCU. Jericho Capital Asset Management L.P. lifted its stake in shares of DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after acquiring an additional 2,597,489 shares during the period. Thrivent Financial for Lutherans acquired a new stake in DocuSign in the second quarter valued at about $115,795,000. Pacer Advisors Inc. lifted its position in DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. KBC Group NV boosted its holdings in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position 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 purchasing an additional 576,414 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the sale, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. This trade represents a 10.88 % decrease in their position. 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. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of DOCU opened at $80.18 on Friday. DocuSign, Inc. has a 1-year low of $42.12 and a 1-year high of $83.68. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 8.41 and a beta of 0.90. The firm has a 50 day simple moving average of $68.94 and a 200-day simple moving average of $60.07.

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

Analysts Set New Price Targets

Several analysts have recently commented on DOCU shares. JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. 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. Finally, Wells Fargo & Company increased their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.