Cannon Global Investment Management LLC Purchases 425 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Cannon Global Investment Management LLC increased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 3.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,725 shares of the company’s stock after acquiring an additional 425 shares during the quarter. DocuSign comprises 1.5% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. Cannon Global Investment Management LLC’s holdings in DocuSign were worth $914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in DocuSign by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,219 shares of the company’s stock worth $28,180,000 after buying an additional 3,038 shares in the last quarter. Norden Group LLC purchased a new stake in DocuSign during the first quarter valued at about $467,000. Van ECK Associates Corp lifted its stake in DocuSign by 30.7% during the first quarter. Van ECK Associates Corp now owns 41,129 shares of the company’s stock worth $2,449,000 after purchasing an additional 9,650 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of DocuSign in the 1st quarter worth about $464,000. Finally, Private Advisor Group LLC increased its position in shares of DocuSign by 4.1% during the 1st quarter. Private Advisor Group LLC now owns 27,197 shares of the company’s stock valued at $1,620,000 after purchasing an additional 1,075 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,777 shares of company stock worth $7,267,469. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Bank of America boosted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Citigroup increased their target price on shares of 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 boosted their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus target price of $63.40.

DocuSign Price Performance

NASDAQ:DOCU traded up $1.73 during trading hours on Friday, hitting $71.11. The company had a trading volume of 2,594,606 shares, compared to its average volume of 5,097,265. The stock has a 50-day moving average price of $63.16 and a 200 day moving average price of $58.04. The company has a market capitalization of $14.43 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 7.34 and a beta of 0.90. DocuSign, Inc. has a 52 week low of $39.21 and a 52 week high of $73.80.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share 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 for the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the previous year, the firm posted $0.09 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

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.