Truvestments Capital LLC Buys Shares of 1,189 DocuSign, Inc. (NASDAQ:DOCU)

Truvestments Capital LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,189 shares of the company’s stock, valued at approximately $74,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new stake in shares of DocuSign in the third quarter worth about $911,000. Comerica Bank increased its holdings in shares of DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after acquiring an additional 85,987 shares in the last quarter. Finally, Carrera Capital Advisors bought a new stake in shares of DocuSign in the third quarter worth about $666,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 6.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by company insiders.

DocuSign Price Performance

DOCU opened at $85.30 on Wednesday. The business has a fifty day simple moving average of $70.63 and a 200 day simple moving average of $60.66. The company has a market capitalization of $17.31 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a 1 year low of $42.13 and a 1 year high of $86.75.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Equities analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DOCU. 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. Wells Fargo & Company increased their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada increased 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 increased their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.80.

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.