Financial Advocates Investment Management Has $530,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Financial Advocates Investment Management lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,537 shares of the company’s stock after selling 1,259 shares during the period. Financial Advocates Investment Management’s holdings in DocuSign were worth $530,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its stake in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 500 shares during the period. Mather Group LLC. increased its stake 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 acquiring an additional 564 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of DocuSign during the second quarter worth $48,000. Quarry LP acquired a new stake in DocuSign during the second quarter valued at $53,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in DocuSign in the second quarter valued at about $72,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $71.11 on Friday. The stock’s 50-day moving average is $63.16 and its 200-day moving average is $58.04. The company has a market cap of $14.43 billion, a P/E ratio of 15.00, a P/E/G ratio of 7.30 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $39.21 and a 52-week high of $73.80.

DocuSign (NASDAQ:DOCU) last released its 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. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that DocuSign, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DOCU. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Wells Fargo & Company raised their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Robert W. Baird lifted their price objective 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. Finally, Royal Bank of Canada increased their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.40.

Insider Activity at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares in the company, valued at $44,426,030.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the transaction, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,777 shares of company stock worth $7,267,469 over the last three months. Company insiders own 1.66% of the company’s stock.

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.