Commerce Bank Boosts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Commerce Bank grew its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 9,852 shares of the company’s stock after buying an additional 341 shares during the period. Commerce Bank’s holdings in DocuSign were worth $612,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares during the period. Mather Group LLC. increased its position in 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 purchasing an additional 564 shares during the period. Reston Wealth Management LLC purchased a new position in shares of DocuSign during the 3rd quarter worth approximately $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 purchased a new stake in shares of DocuSign in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 in the last ninety days. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

DOCU stock opened at $85.51 on Tuesday. The stock’s 50 day moving average price is $70.04 and its 200 day moving average price is $60.46. The firm has a market cap of $17.36 billion, a P/E ratio of 18.04, a PEG ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a 1 year low of $42.13 and a 1 year high of $86.50.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data 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. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. On average, research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Bank of America raised their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Royal Bank of Canada increased their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Finally, Robert W. Baird boosted their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.80.

About DocuSign

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.