Claro Advisors LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU – Free Report) in the third quarter, Holdings Channel reports. The fund acquired 11,704 shares of the company’s stock, valued at approximately $727,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC bought a new position in shares of DocuSign in the third quarter worth $911,000. Comerica Bank raised its position 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 in the last quarter. Retirement Systems of Alabama bought a new stake in shares of DocuSign during the 1st quarter worth approximately $8,700,000. PGGM Investments boosted its position in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after acquiring an additional 13,379 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of DocuSign by 77.8% during the 1st quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock worth $3,364,000 after acquiring an additional 24,718 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.
DocuSign Price Performance
Shares of NASDAQ DOCU opened at $72.30 on Friday. The company has a 50 day simple moving average of $60.31 and a 200 day simple moving average of $57.26. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $73.80. The firm has a market cap of $14.80 billion, a PE ratio of 139.04, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on DOCU shares. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their price target 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.40.
Get Our Latest Analysis on DocuSign
Insiders Place Their Bets
In other news, Director Daniel D. Springer sold 70,983 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the sale, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the sale, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. 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 at this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now directly owns 923,445 shares of the company’s stock, valued at $49,662,872.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,554 shares of company stock valued at $23,129,150. 1.66% of the stock is currently owned by company insiders.
DocuSign Company 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.
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