AMG National Trust Bank Invests $1.25 Million in DocuSign, Inc. (NASDAQ:DOCU)

AMG National Trust Bank purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) 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.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The business had revenue of $709.64 million during the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. As a group, research analysts anticipate that DocuSign, Inc. will post 0.88 EPS for the current year.

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.

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.