Sanctuary Advisors LLC Invests $942,000 in DocuSign, Inc. (NASDAQ:DOCU)

Sanctuary Advisors LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the second quarter, according to its most recent filing with the SEC. The firm acquired 16,466 shares of the company’s stock, valued at approximately $942,000.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank lifted its holdings 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 during the period. Vanguard Group Inc. boosted its position in shares of DocuSign by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares in the last quarter. Retirement Systems of Alabama acquired a new position in shares of DocuSign during the 1st quarter worth $8,700,000. PGGM Investments increased its holdings in shares of DocuSign by 36.7% in the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after purchasing an additional 13,379 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of DocuSign by 77.8% in the first quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock valued at $3,364,000 after purchasing an additional 24,718 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

NASDAQ:DOCU opened at $68.89 on Friday. The firm has a market cap of $13.98 billion, a PE ratio of 14.53, a P/E/G ratio of 7.33 and a beta of 0.92. The firm has a 50 day simple moving average of $58.30 and a 200-day simple moving average of $56.83. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $69.78.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. 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 through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the transaction, the insider now directly owns 43,301 shares in the company, valued at $2,937,106.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 418,002 shares of company stock valued at $22,471,973. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

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

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.