Townsquare Capital LLC Buys 183 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Townsquare Capital LLC lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.7% during the third quarter, HoldingsChannel reports. The firm owned 5,103 shares of the company’s stock after acquiring an additional 183 shares during the quarter. Townsquare Capital LLC’s holdings in DocuSign were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOCU. Mather Group LLC. raised its stake in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Brooklyn Investment Group bought a new stake in DocuSign in the 3rd quarter valued at $33,000. Reston Wealth Management LLC bought a new stake in DocuSign in the 3rd quarter valued at $47,000. nVerses Capital LLC bought a new stake in DocuSign in the 2nd quarter valued at $48,000. Finally, Quarry LP bought a new stake in DocuSign in the 2nd quarter valued at $53,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Bank of America increased their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Jefferies Financial Group increased their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $70.73.

DocuSign Stock Performance

DOCU opened at $83.68 on Friday. The firm has a market cap of $16.98 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. DocuSign, Inc. has a 52-week low of $44.34 and a 52-week high of $86.75. The business’s fifty day moving average is $73.75 and its 200-day moving average is $61.68.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for 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 period in the prior year, the firm posted $0.09 EPS. On average, research analysts predict that DocuSign, Inc. will post 1.03 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares of the company’s stock, valued at $4,859,782.17. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,596 shares of company stock valued at $4,441,529. 1.66% of the stock is owned by corporate insiders.

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.