Csenge Advisory Group Takes $693,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Csenge Advisory Group bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,945 shares of the company’s stock, valued at approximately $693,000.

Several other institutional investors also recently bought and sold shares of DOCU. Massmutual Trust Co. FSB ADV lifted its position in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Capital Analysts LLC boosted its holdings in shares of DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after purchasing an additional 469 shares during the period. Mather Group LLC. grew its stake in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new position in DocuSign during the 1st quarter worth $37,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign in the 4th quarter worth $39,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $54.92, for a total transaction of $27,405.08. Following the completion of the transaction, the director now directly owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.92, for a total transaction of $27,405.08. Following the completion of the sale, the director now owns 6,668 shares of the company’s stock, valued at $366,206.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction 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 90 days, insiders have sold 475,192 shares of company stock worth $25,095,034. 1.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Wednesday, July 10th. Citigroup lowered their target price on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Bank of America lowered their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, June 7th. Finally, Piper Sandler lowered their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average target price of $59.36.

DocuSign Price Performance

NASDAQ:DOCU opened at $52.02 on Friday. The company has a 50 day moving average price of $53.46 and a 200-day moving average price of $55.75. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 100.19, a price-to-earnings-growth ratio of 8.34 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The company had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. On average, sell-side analysts anticipate that DocuSign, Inc. will post 0.88 earnings per share 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.