11,704 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Claro Advisors LLC

Claro Advisors LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, Holdings Channel reports. The fund acquired 11,704 shares of the company’s stock, valued at approximately $727,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC bought a new position in shares of DocuSign in the third quarter worth $911,000. Comerica Bank raised its position in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares in the last quarter. Retirement Systems of Alabama bought a new stake in shares of DocuSign during the 1st quarter worth approximately $8,700,000. PGGM Investments boosted its position in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after acquiring an additional 13,379 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of DocuSign by 77.8% during the 1st quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock worth $3,364,000 after acquiring an additional 24,718 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $72.30 on Friday. The company has a 50 day simple moving average of $60.31 and a 200 day simple moving average of $57.26. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $73.80. The firm has a market cap of $14.80 billion, a PE ratio of 139.04, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last released 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. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same quarter last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DOCU shares. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their price target on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.40.

Insiders Place Their Bets

In other news, Director Daniel D. Springer sold 70,983 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the sale, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the sale, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,554 shares of company stock valued at $23,129,150. 1.66% of the stock is currently owned by company insiders.

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.