Victory Capital Management Inc. Increases Stake in DocuSign, Inc. (NASDAQ:DOCU)

Victory Capital Management Inc. boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 211.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 409,877 shares of the company’s stock after acquiring an additional 278,252 shares during the period. Victory Capital Management Inc.’s holdings in DocuSign were worth $25,449,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of DocuSign by 1.9% in the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after purchasing an additional 75,026 shares during the period. Renaissance Technologies LLC grew its stake in DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares in the last quarter. Pacer Advisors Inc. raised its holdings in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after acquiring an additional 1,541,816 shares during the period. Jericho Capital Asset Management L.P. lifted its position in shares of DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after acquiring an additional 2,597,489 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of DocuSign by 4.1% in the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock worth $156,265,000 after acquiring an additional 115,616 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Performance

DocuSign stock opened at $79.11 on Monday. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68. The firm’s fifty day moving average price is $67.05 and its 200-day moving average price is $59.50. The stock has a market cap of $16.06 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 8.37 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock worth $4,272,768 over the last ninety days. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DOCU. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Citigroup boosted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.40.

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.