Cerity Partners LLC Purchases 28,829 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Cerity Partners LLC boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 39.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,600 shares of the company’s stock after buying an additional 28,829 shares during the period. Cerity Partners LLC’s holdings in DocuSign were worth $6,308,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. lifted its position in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of DocuSign in the 3rd quarter worth $47,000. nVerses Capital LLC purchased a new position in shares of DocuSign in the 2nd quarter worth $48,000. Finally, Quarry LP purchased a new position in shares of DocuSign in the 2nd quarter worth $53,000. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DOCU shares. Wells Fargo & Company lifted 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. JMP Securities lifted their target price on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada increased their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Citigroup boosted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus target price of $65.80.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their position. 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 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

DOCU stock opened at $80.38 on Thursday. DocuSign, Inc. has a 12 month low of $42.13 and a 12 month high of $86.75. The firm’s 50-day moving average is $71.11 and its 200 day moving average is $60.79. The company has a market capitalization of $16.31 billion, a PE ratio of 16.96, a P/E/G ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Sell-side analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

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.