Caprock Group LLC Acquires New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Caprock Group LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,145 shares of the company’s stock, valued at approximately $319,000.

Several other hedge funds have also made changes to their positions in the company. J.W. Cole Advisors Inc. lifted its holdings in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after buying an additional 155 shares during the period. Resonant Capital Advisors LLC lifted its holdings in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after buying an additional 157 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after buying an additional 172 shares during the period. Dakota Wealth Management lifted its holdings in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after buying an additional 181 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of DocuSign by 5.8% in the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after buying an additional 182 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by insiders.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $83.03 on Friday. The business’s 50-day moving average is $69.47 and its 200 day moving average is $60.25. The firm has a market capitalization of $16.85 billion, a P/E ratio of 17.52, a P/E/G ratio of 8.48 and a beta of 0.90. DocuSign, Inc. has a 1 year low of $42.13 and a 1 year high of $83.68.

DocuSign (NASDAQ:DOCU) last posted its quarterly 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. 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 company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. On average, analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. 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 report on Friday, September 6th. Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.80.

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.