AMG National Trust Bank purchased a new position in DocuSign, Inc. (NASDAQ:DOCU – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,306 shares of the company’s stock, valued at approximately $1,247,000.
Several other institutional investors and hedge funds also recently modified their holdings of DOCU. Coatue Management LLC bought a new position in shares of DocuSign in the fourth quarter worth $288,274,000. Jericho Capital Asset Management L.P. grew its stake in shares of DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after purchasing an additional 2,597,489 shares in the last quarter. Norges Bank bought a new position in shares of DocuSign in the fourth quarter worth $133,826,000. Assenagon Asset Management S.A. grew its stake in shares of DocuSign by 956.3% in the first quarter. Assenagon Asset Management S.A. now owns 495,126 shares of the company’s stock worth $29,485,000 after purchasing an additional 448,253 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.
DocuSign Stock Up 1.3 %
Shares of NASDAQ DOCU traded up $0.74 during mid-day trading on Friday, hitting $57.44. 1,297,885 shares of the company traded hands, compared to its average volume of 2,668,891. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 110.46, a PEG ratio of 8.34 and a beta of 0.94. The business has a 50 day moving average of $54.14 and a two-hundred day moving average of $55.38.
Insider Activity at DocuSign
In related news, Director Daniel D. Springer sold 70,983 shares of the company’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 transaction, the director now directly owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the transaction, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel D. Springer sold 70,983 shares of the company’s 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 completion of the transaction, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 475,192 shares of company stock valued at $25,095,034. Company insiders own 1.66% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, August 16th. Morgan Stanley cut their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. JMP Securities restated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a report on Wednesday, July 10th. Royal Bank of Canada cut their price objective on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday, June 7th. Finally, Robert W. Baird cut their price objective on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $59.36.
View Our Latest Stock Analysis on DOCU
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.
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