Beck Capital Management LLC Increases Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Beck Capital Management LLC grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 6.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,485 shares of the company’s stock after purchasing an additional 547 shares during the quarter. Beck Capital Management LLC’s holdings in DocuSign were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans purchased a new position in shares of DocuSign during the 2nd quarter worth $115,795,000. Pacer Advisors Inc. raised its holdings in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares during the period. KBC Group NV lifted its position in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Renaissance Technologies LLC grew its holdings in DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in DocuSign by 151.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after buying an additional 521,292 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $79.69 on Monday. The company has a market cap of $16.17 billion, a P/E ratio of 16.81, a P/E/G ratio of 8.25 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.76 and a 52-week high of $86.75. The firm’s fifty day moving average is $71.99 and its two-hundred day moving average is $61.08.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm 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 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts forecast that DocuSign, Inc. will post 1.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOCU shares. JMP Securities lifted their price objective on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.80.

About DocuSign

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.