Caz Investments LP Acquires 1,000 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Caz Investments LP grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 50.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. DocuSign comprises about 0.1% of Caz Investments LP’s investment portfolio, making the stock its 17th biggest position. Caz Investments LP’s holdings in DocuSign were worth $186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DOCU. Massmutual Trust Co. FSB ADV boosted its position in 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 period. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the third quarter worth $33,000. Mather Group LLC. boosted its holdings in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. Reston Wealth Management LLC acquired a new position in DocuSign in the 3rd quarter valued at $47,000. Finally, nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter worth $48,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $85.30 on Wednesday. The business has a 50 day simple moving average of $70.63 and a 200 day simple moving average of $60.66. The company has a market capitalization of $17.31 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90. DocuSign, Inc. has a one year low of $42.13 and a one year high of $86.75.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue for the quarter 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. Equities analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JMP Securities raised their price target on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Citigroup upped their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” 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. Finally, Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $65.80.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the transaction, the chief executive officer now owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The trade was a 7.03 % 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 valued at $4,272,768. 1.66% of the stock is currently owned by insiders.

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.