Caprock Group LLC Makes New $319,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Caprock Group LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, Holdings Channel reports. The firm purchased 5,145 shares of the company’s stock, valued at approximately $319,000.

A number of other hedge funds also recently bought and sold shares of DOCU. Jericho Capital Asset Management L.P. boosted its position in DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after purchasing an additional 2,597,489 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in DocuSign during the second quarter worth approximately $115,795,000. Pacer Advisors Inc. boosted its position in DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. KBC Group NV boosted its position in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in DocuSign by 18.3% during the second 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 in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOCU. Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Bank of America increased their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Royal Bank of Canada increased their target price on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Two 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. According to data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus price target of $65.80.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 6.90 % 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 valued at $4,272,768 over the last quarter. 1.66% of the stock is owned by insiders.

DocuSign Stock Up 3.6 %

DOCU stock opened at $83.03 on Friday. The business has a fifty day moving average of $69.47 and a two-hundred day moving average of $60.25. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 8.48 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $83.68.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, sell-side analysts anticipate 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.