Mitchell Mcleod Pugh & Williams Inc. Invests $208,000 in DocuSign, Inc. (NASDAQ:DOCU)

Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, Holdings Channel reports. The firm bought 3,491 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. New York State Teachers Retirement System grew its stake in shares of DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after buying an additional 163 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of DocuSign by 2.7% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after purchasing an additional 184 shares during the period. Whittier Trust Co. raised its stake in shares of DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares during the period. SeaCrest Wealth Management LLC lifted its position in shares of DocuSign by 2.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 11,087 shares of the company’s stock worth $606,000 after purchasing an additional 243 shares in the last quarter. Finally, Performa Ltd US LLC boosted its stake in shares of DocuSign by 50.0% in the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other DocuSign news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the director now directly owns 783 shares in the company, valued at $46,980. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other DocuSign news, Director Peter Solvik sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the sale, the director now directly owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total transaction of $470,553.60. Following the transaction, the chief executive officer now directly owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. In the last three months, insiders sold 54,871 shares of company stock valued at $3,176,199. Company insiders own 17.80% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $59.00 price target on shares of DocuSign in a report on Friday, April 12th. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Finally, Wells Fargo & Company reduced their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $60.25.

DocuSign Trading Down 0.2 %

Shares of DOCU opened at $57.10 on Tuesday. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 158.62, a PEG ratio of 4.94 and a beta of 0.89. The stock has a 50 day moving average of $56.62 and a 200-day moving average of $52.91.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The firm had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. On average, sell-side analysts predict that DocuSign, Inc. will post 0.87 earnings per share for the current fiscal year.

About DocuSign

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.