DocuSign, Inc. (NASDAQ:DOCU) Position Boosted by Glenmede Trust Co. NA

Glenmede Trust Co. NA increased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 28.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 793,301 shares of the company’s stock after purchasing an additional 175,952 shares during the quarter. Glenmede Trust Co. NA owned 0.39% of DocuSign worth $49,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in shares of DocuSign by 9.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,165 shares of the company’s stock valued at $427,000 after buying an additional 593 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of DocuSign by 6.0% during the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock valued at $236,000 after purchasing an additional 224 shares during the last quarter. Comerica Bank boosted its position in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after purchasing an additional 20,110 shares during the period. iA Global Asset Management Inc. increased its stake in DocuSign by 112.1% in the 1st quarter. iA Global Asset Management Inc. now owns 9,494 shares of the company’s stock worth $565,000 after purchasing an additional 5,018 shares in the last quarter. Finally, Plato Investment Management Ltd increased its stake in DocuSign by 1,113.7% in the 1st quarter. Plato Investment Management Ltd now owns 21,858 shares of the company’s stock worth $1,302,000 after purchasing an additional 20,057 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Activity

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction on Wednesday, September 18th. The stock was 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 $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,558 shares of company stock worth $4,272,768. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Down 0.2 %

Shares of DocuSign stock opened at $85.30 on Wednesday. DocuSign, Inc. has a 12-month low of $42.13 and a 12-month high of $86.75. The stock has a market capitalization of $17.31 billion, a P/E ratio of 18.00, a PEG ratio of 9.05 and a beta of 0.90. The stock has a 50 day moving average price of $70.63 and a two-hundred day moving average price of $60.66.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on DOCU. Bank of America raised their target price on shares of 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 raised their price objective 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. JMP Securities boosted their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Robert W. Baird raised 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus 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.