Forsta AP Fonden Buys 84,700 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Forsta AP Fonden lifted its position in DocuSign, Inc. (NASDAQ:DOCU) by 195.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,000 shares of the company’s stock after acquiring an additional 84,700 shares during the quarter. Forsta AP Fonden owned approximately 0.06% of DocuSign worth $6,848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Mather Group LLC. grew its stake in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of DocuSign during the 1st quarter valued at $37,000. ICA Group Wealth Management LLC bought a new stake in shares of DocuSign during the 4th quarter worth $39,000. Finally, nVerses Capital LLC purchased a new position in shares of DocuSign in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

DOCU stock opened at $56.63 on Friday. The firm has a 50 day simple moving average of $55.57 and a two-hundred day simple moving average of $56.04. The stock has a market cap of $11.59 billion, a PE ratio of 108.90, a P/E/G ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

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, research analysts expect that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCU. Morgan Stanley lowered their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, June 7th. Robert W. Baird raised their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada upped their price target on 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 reissued a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th. Finally, Wells Fargo & Company upped their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $61.45.

Insider Buying and Selling

In other news, Director Daniel D. Springer sold 70,983 shares of DocuSign 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 transaction, the director now owns 891,373 shares in the company, valued at $44,426,030.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the sale, the director now directly owns 891,373 shares in the company, valued at approximately $44,426,030.32. The disclosure for this sale can be found here. Insiders have sold a total of 480,618 shares of company stock worth $25,432,336 in the last 90 days. 1.66% of the stock is owned by company insiders.

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.