2,630 Shares in DocuSign, Inc. (NASDAQ:DOCU) Bought by Moors & Cabot Inc.

Moors & Cabot Inc. purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,630 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds have also bought and sold shares of DOCU. Apollon Wealth Management LLC bought a new stake in shares of DocuSign in the third quarter valued at $203,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of DocuSign by 10.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock valued at $29,500,000 after buying an additional 44,615 shares during the period. Victory Capital Management Inc. raised its stake in shares of DocuSign by 211.4% in the third quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock valued at $25,449,000 after buying an additional 278,252 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of DocuSign by 9.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock valued at $338,000 after buying an additional 481 shares during the period. Finally, Metis Global Partners LLC bought a new stake in shares of DocuSign in the third quarter valued at $224,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Up 14.8 %

Shares of NASDAQ DOCU opened at $85.76 on Monday. The firm has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. The stock’s 50-day simple moving average is $87.97 and its two-hundred day simple moving average is $79.52. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. As a group, research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,888 shares of company stock worth $8,856,718. 1.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DOCU shares. JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Robert W. Baird boosted their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Finally, Jefferies Financial Group boosted their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average price target of $95.58.

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.