Townsquare Capital LLC Acquires 183 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Townsquare Capital LLC boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,103 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Townsquare Capital LLC’s holdings in DocuSign were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new stake in DocuSign during the 3rd quarter worth about $911,000. Charles Schwab Investment Management Inc. raised its holdings in DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares during the last quarter. Comerica Bank raised its holdings in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the last quarter. International Assets Investment Management LLC raised its holdings in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in DocuSign by 7.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $4,441,529 in the last quarter. 1.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. 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 note on Friday, September 6th. Jefferies Financial Group upped their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. JMP Securities upped their price target on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note 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 research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.73.

DocuSign Stock Performance

Shares of DOCU opened at $83.68 on Friday. The stock has a 50 day simple moving average of $73.75 and a 200 day simple moving average of $61.68. DocuSign, Inc. has a 52-week low of $44.34 and a 52-week high of $86.75. The firm has a market capitalization of $16.98 billion, a PE ratio of 17.65, a P/E/G ratio of 8.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data 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 business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same period in the previous year, the firm earned $0.09 EPS. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that DocuSign, Inc. will post 1.03 EPS for the current fiscal year.

About DocuSign

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.