Global Trust Asset Management LLC Boosts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Global Trust Asset Management LLC raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 117.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,368 shares of the company’s stock after acquiring an additional 1,280 shares during the period. Global Trust Asset Management LLC’s holdings in DocuSign were worth $147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after buying an additional 431,295 shares during the period. Lecap Asset Management Ltd. grew its holdings in shares of DocuSign by 312.3% during the 3rd quarter. Lecap Asset Management Ltd. now owns 52,858 shares of the company’s stock worth $3,282,000 after purchasing an additional 40,037 shares during the period. Castleview Partners LLC grew its holdings in shares of DocuSign by 4,530.0% during the 3rd quarter. Castleview Partners LLC now owns 1,389 shares of the company’s stock worth $86,000 after purchasing an additional 1,359 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of DocuSign by 2,194.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 105,688 shares of the company’s stock worth $6,562,000 after purchasing an additional 101,082 shares during the period. Finally, DMC Group LLC grew its holdings in shares of DocuSign by 4.6% during the 3rd quarter. DMC Group LLC now owns 4,561 shares of the company’s stock worth $283,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the transaction, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 427,554 shares of company stock worth $23,129,150. 1.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Robert W. Baird boosted their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.40.

DocuSign Stock Performance

DocuSign stock opened at $68.99 on Friday. The stock’s 50 day moving average price is $61.87 and its 200 day moving average price is $57.66. DocuSign, Inc. has a one year low of $38.11 and a one year high of $73.80. The firm has a market capitalization of $14.12 billion, a PE ratio of 132.67, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. On average, analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal 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.