West Tower Group LLC Buys 500 Shares of DocuSign, Inc. (NASDAQ:DOCU)

West Tower Group LLC lifted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 50.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the company’s stock after acquiring an additional 500 shares during the period. West Tower Group LLC’s holdings in DocuSign were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Truvestments Capital LLC acquired a new position in shares of DocuSign in the 3rd quarter valued at about $74,000. DRW Securities LLC acquired a new position in shares of DocuSign in the 3rd quarter valued at about $339,000. Harvest Fund Management Co. Ltd acquired a new position in shares of DocuSign in the 3rd quarter valued at about $306,000. Swedbank AB lifted its stake in shares of DocuSign by 6.1% in the 3rd quarter. Swedbank AB now owns 124,131 shares of the company’s stock valued at $7,707,000 after purchasing an additional 7,090 shares during the period. Finally, Cerity Partners LLC increased its position in DocuSign by 39.6% in the 3rd quarter. Cerity Partners LLC now owns 101,600 shares of the company’s stock valued at $6,308,000 after buying an additional 28,829 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the transaction, the chief financial officer now directly owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. This trade represents a 10.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 over the last 90 days. 1.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Bank of America boosted their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Citigroup boosted 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. Wells Fargo & Company boosted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada boosted 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Performance

DocuSign stock opened at $85.51 on Tuesday. The stock has a market cap of $17.36 billion, a P/E ratio of 18.04, a PEG ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a fifty-two week low of $42.13 and a fifty-two week high of $86.50. The firm’s fifty day moving average price is $70.04 and its 200-day moving average price is $60.46.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 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 analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Sell-side analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

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.