DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,328,355 shares of the company’s stock after buying an additional 16,014 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of DocuSign worth $82,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its stake in shares of DocuSign by 5,000.0% during the 2nd 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 period. Mather Group LLC. increased its holdings in 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. Reston Wealth Management LLC acquired a new position in DocuSign during the third quarter worth $47,000. nVerses Capital LLC purchased a new position in DocuSign during the second quarter valued at $48,000. Finally, Quarry LP acquired a new stake in shares of DocuSign in the second quarter valued at about $53,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Down 5.8 %

Shares of DocuSign stock opened at $80.38 on Thursday. The firm has a market cap of $16.31 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90. DocuSign, Inc. has a 52 week low of $42.13 and a 52 week high of $86.75. The business’s fifty day simple moving average is $71.11 and its 200-day simple moving average is $60.79.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on DOCU shares. Citigroup raised their price target 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. Royal Bank of Canada increased their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. JMP Securities boosted their price target on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Wells Fargo & Company raised their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” 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 issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.80.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the completion of the sale, the chief financial officer now owns 87,611 shares in the company, valued at $4,859,782.17. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,558 shares of company stock worth $4,272,768. Insiders own 1.66% of the company’s stock.

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.