Inspire Investing LLC Buys New Shares in DocuSign, Inc. (NASDAQ:DOCU)

Inspire Investing LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,668 shares of the company’s stock, valued at approximately $911,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jericho Capital Asset Management L.P. increased its stake in shares of DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after acquiring an additional 2,597,489 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in DocuSign in the second quarter valued at $115,795,000. Pacer Advisors Inc. raised its holdings 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 valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. Renaissance Technologies LLC boosted its position in shares of DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after purchasing an additional 576,414 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after buying an additional 521,292 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm’s 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 sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 418,002 shares of company stock worth $22,471,973 in the last three months. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America increased their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada upped their price objective on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Robert W. Baird lifted their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Finally, Citigroup raised their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, DocuSign has a consensus rating of “Hold” and an average target price of $63.40.

DocuSign Stock Down 0.0 %

Shares of DOCU stock opened at $68.86 on Tuesday. The business has a 50-day moving average price of $58.69 and a two-hundred day moving average price of $56.88. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $70.19. The firm has a market cap of $14.10 billion, a P/E ratio of 132.42, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last released its 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. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the company posted $0.09 EPS. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts expect that DocuSign, Inc. will post 1.01 EPS for the current fiscal 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.