Resonant Capital Advisors LLC Increases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Resonant Capital Advisors LLC raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 0.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,516 shares of the company’s stock after buying an additional 157 shares during the quarter. Resonant Capital Advisors LLC’s holdings in DocuSign were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOCU. Massmutual Trust Co. FSB ADV lifted its holdings in DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the period. Mather Group LLC. increased its position in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of DocuSign in the 1st quarter worth approximately $37,000. nVerses Capital LLC bought a new position in shares of DocuSign in the 2nd quarter worth approximately $48,000. Finally, Quarry LP purchased a new position in shares of DocuSign in the second quarter worth approximately $53,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Price Performance

DocuSign stock opened at $72.30 on Friday. The firm’s 50 day moving average price is $60.31 and its 200-day moving average price is $57.26. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $73.80. The stock has a market cap of $14.80 billion, a P/E ratio of 139.04, a PEG ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate 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 net margin of 34.56% and a return on equity of 16.18%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

DOCU has been the topic of several recent research reports. Citigroup increased their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Robert W. Baird boosted their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.40.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,554 shares of company stock worth $23,129,150 over the last 90 days. 1.66% of the stock is owned by insiders.

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.