Pallas Capital Advisors LLC Buys New Position in DocuSign, Inc. (NASDAQ:DOCU)

Pallas Capital Advisors LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, HoldingsChannel reports. The firm purchased 5,977 shares of the company’s stock, valued at approximately $371,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its stake in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the last quarter. Mather Group LLC. raised its position in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter valued at about $48,000. Quarry LP bought a new stake in shares of DocuSign during the 2nd quarter valued at about $53,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in DocuSign during the second quarter worth approximately $72,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $69.38 on Friday. The firm’s 50-day simple moving average is $62.88 and its 200 day simple moving average is $57.94. The stock has a market cap of $14.08 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $73.80.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating 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 last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that DocuSign, Inc. will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares in the company, valued at approximately $5,384,632. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,777 shares of company stock valued at $7,267,469 in the last three months. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on DOCU shares. Robert W. Baird boosted 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. Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Finally, Citigroup boosted their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.