Oppenheimer Asset Management Inc. Increases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Oppenheimer Asset Management Inc. grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 17.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,961 shares of the company’s stock after acquiring an additional 741 shares during the period. Oppenheimer Asset Management Inc.’s holdings in DocuSign were worth $265,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. lifted its position in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of DocuSign in the first quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign in the fourth quarter worth about $39,000. Finally, nVerses Capital LLC purchased a new stake in shares of DocuSign in the second quarter worth about $48,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

DOCU opened at $57.97 on Friday. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 111.48, a P/E/G ratio of 5.99 and a beta of 0.93. The stock’s 50 day moving average price is $55.87 and its 200-day moving average price is $56.20. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, analysts predict that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on DOCU shares. Morgan Stanley decreased their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Bank of America boosted their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.45.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the sale, the chief executive officer now owns 117,643 shares in the company, valued at $6,325,664.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at $407,345.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 460,864 shares of company stock worth $24,549,227. Company insiders own 1.66% of the company’s stock.

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.