Doheny Asset Management CA Makes New $410,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Doheny Asset Management CA bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 2nd quarter, Holdings Channel.com reports. The firm bought 7,655 shares of the company’s stock, valued at approximately $410,000.

A number of other large investors have also recently made changes to their positions in the company. Dakota Wealth Management increased its holdings in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after acquiring an additional 181 shares during the period. New York State Teachers Retirement System raised its stake in DocuSign by 1.0% during the 1st quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock valued at $1,100,000 after acquiring an additional 187 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its position in DocuSign by 1.1% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company’s stock worth $1,008,000 after acquiring an additional 214 shares during the period. Motley Fool Asset Management LLC grew its stake in shares of DocuSign by 6.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock valued at $236,000 after purchasing an additional 224 shares during the last quarter. Finally, Optimist Retirement Group LLC increased its holdings in shares of DocuSign by 5.6% in the second quarter. Optimist Retirement Group LLC now owns 4,255 shares of the company’s stock valued at $228,000 after purchasing an additional 227 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Wells Fargo & Company raised their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.40.

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the transaction, the chief executive officer now owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the transaction, the chief financial officer now directly owns 87,611 shares in the company, valued at approximately $4,859,782.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $425,374.47. Following the completion of the sale, the chief executive officer now directly owns 117,643 shares in the company, valued at $6,325,664.11. The disclosure for this sale can be found here. Insiders sold a total of 446,065 shares of company stock worth $23,777,163 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

DOCU stock opened at $61.67 on Friday. The company’s 50 day simple moving average is $56.30 and its 200-day simple moving average is $56.38. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The firm has a market capitalization of $12.62 billion, a PE ratio of 118.60, a P/E/G ratio of 6.37 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 0.99 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.