Commerce Bank Increases Position in DocuSign, Inc. (NASDAQ:DOCU)

Commerce Bank raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,852 shares of the company’s stock after buying an additional 341 shares during the period. Commerce Bank’s holdings in DocuSign were worth $612,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its holdings in DocuSign by 5,000.0% during the 2nd 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 period. Mather Group LLC. lifted its position in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of DocuSign in the third quarter valued at approximately $47,000. nVerses Capital LLC acquired a new position in shares of DocuSign in the second quarter valued at approximately $48,000. Finally, Quarry LP acquired a new position in shares of DocuSign in the second quarter valued at approximately $53,000. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Trading Up 3.0 %

DOCU stock opened at $85.51 on Tuesday. The stock has a market cap of $17.36 billion, a P/E ratio of 18.04, a PEG ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a twelve month low of $42.13 and a twelve month high of $86.50. The company’s 50 day moving average is $70.04 and its two-hundred day moving average is $60.46.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on DOCU shares. Royal Bank of Canada raised their price target 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. Bank of America lifted their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Citigroup upped their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Robert W. Baird increased their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.80.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction 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 transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This trade represents a 7.03 % 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 in the last three months. 1.66% of the stock is currently owned by company insiders.

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.