3,262 Shares in DocuSign, Inc. (NASDAQ:DOCU) Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, Holdings Channel reports. The institutional investor bought 3,262 shares of the company’s stock, valued at approximately $203,000.

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

DocuSign Price Performance

Shares of DocuSign stock opened at $78.37 on Tuesday. The company has a market cap of $15.91 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 8.37 and a beta of 0.90. The firm has a fifty day moving average price of $67.05 and a two-hundred day moving average price of $59.52. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share 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 analysts’ expectations of $727.20 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DOCU shares. Wells Fargo & Company upped their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Robert W. Baird increased 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. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Citigroup upped their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.40.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the completion of the sale, the insider now directly owns 43,301 shares in the company, valued at approximately $2,937,106.83. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by corporate insiders.

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.