Baker Avenue Asset Management LP Acquires Shares of 3,237 DocuSign, Inc. (NASDAQ:DOCU)

Baker Avenue Asset Management LP acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,237 shares of the company’s stock, valued at approximately $201,000.

Several other large investors also recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. boosted its stake in shares of DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after buying an additional 2,597,489 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of DocuSign during the second quarter worth about $115,795,000. Pacer Advisors Inc. boosted its stake in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. Renaissance Technologies LLC boosted its stake in shares of DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after buying an additional 521,292 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the subject of several recent research reports. Citigroup increased their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird increased their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Finally, Bank of America increased their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.40.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is owned by insiders.

DocuSign Price Performance

DOCU stock opened at $82.47 on Wednesday. The company’s 50 day simple moving average is $65.20 and its 200-day simple moving average is $58.85. The firm has a market capitalization of $16.74 billion, a PE ratio of 17.14, a P/E/G ratio of 8.40 and a beta of 0.90. DocuSign, Inc. has a 12 month low of $40.64 and a 12 month high of $82.97.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the business earned $0.09 earnings per share. DocuSign’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current year.

About DocuSign

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.