Tyche Wealth Partners LLC Purchases New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Tyche Wealth Partners LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,250 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors also recently bought and sold shares of the company. Diversified Trust Co grew its stake in shares of DocuSign by 80.2% in the first quarter. Diversified Trust Co now owns 11,154 shares of the company’s stock valued at $664,000 after buying an additional 4,963 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in DocuSign by 2.2% in the first quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock valued at $675,000 after acquiring an additional 240 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of DocuSign by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,219 shares of the company’s stock valued at $28,180,000 after purchasing an additional 3,038 shares during the period. Norden Group LLC acquired a new position in shares of DocuSign during the first quarter worth $467,000. Finally, Van ECK Associates Corp boosted its stake in shares of DocuSign by 30.7% in the first quarter. Van ECK Associates Corp now owns 41,129 shares of the company’s stock valued at $2,449,000 after purchasing an additional 9,650 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Price Performance

DOCU stock opened at $70.15 on Wednesday. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $73.80. The firm has a fifty day moving average price of $62.38 and a two-hundred day moving average price of $57.78.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data 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 net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts expect that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the transaction, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at $6,033,399.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,648 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the transaction, the chief executive officer now owns 115,589 shares of the company’s stock, valued at approximately $7,220,844.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 427,554 shares of company stock valued at $23,129,150. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

DocuSign 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.