Texas Capital Bank Wealth Management Services Inc Has $2.68 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Texas Capital Bank Wealth Management Services Inc increased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 400.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in DocuSign were worth $2,675,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its stake 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 worth $27,000 after acquiring an additional 500 shares during the last quarter. Mather Group LLC. boosted its stake in shares of DocuSign by 4,338.5% in the 2nd 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. Register Financial Advisors LLC acquired a new stake in shares of DocuSign during the 1st quarter worth approximately $37,000. ICA Group Wealth Management LLC bought a new stake in shares of DocuSign during the fourth quarter worth approximately $39,000. Finally, nVerses Capital LLC acquired a new position in DocuSign in the second quarter valued at approximately $48,000. 77.64% of the stock is owned by institutional investors.

Insider Activity

In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now directly owns 923,445 shares of the company’s stock, valued at $49,662,872.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Allan C. Thygesen sold 7,911 shares of the firm’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 directly owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel D. Springer sold 287,052 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 446,065 shares of company stock valued at $23,777,163. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DOCU shares. Robert W. Baird lifted 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. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Bank of America lifted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Stock Performance

Shares of DocuSign stock opened at $61.67 on Friday. The firm has a market cap of $12.62 billion, a PE ratio of 118.60, a P/E/G ratio of 6.37 and a beta of 0.93. The business’s 50 day simple moving average is $56.18 and its 200 day simple moving average is $56.35. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results 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 firm 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 revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. As a group, equities research analysts predict that DocuSign, Inc. will post 0.99 EPS for the current year.

DocuSign 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.