Charles Schwab Investment Management Inc. Boosts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Charles Schwab Investment Management Inc. lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,328,355 shares of the company’s stock after purchasing an additional 16,014 shares during the period. Charles Schwab Investment Management Inc.’s holdings in DocuSign were worth $82,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans acquired a new stake in DocuSign in the 2nd quarter valued at about $115,795,000. Pacer Advisors Inc. increased its stake in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. KBC Group NV raised its holdings in DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after acquiring an additional 783,419 shares in the last quarter. Renaissance Technologies LLC raised its holdings in DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in DocuSign by 151.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after acquiring an additional 521,292 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Citigroup upped their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JMP Securities raised their target price on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Finally, Robert W. Baird upped their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two research 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 stock currently has a consensus rating of “Hold” and a consensus price target of $65.80.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 over the last three months. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Performance

NASDAQ DOCU opened at $80.38 on Thursday. The firm’s fifty day moving average is $71.11 and its two-hundred day moving average is $60.79. DocuSign, Inc. has a one year low of $42.13 and a one year high of $86.75. The firm has a market cap of $16.31 billion, a PE ratio of 16.96, a P/E/G ratio of 9.05 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, beating the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

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.