Philip James Wealth Mangement LLC Invests $371,000 in DocuSign, Inc. (NASDAQ:DOCU)

Philip James Wealth Mangement LLC purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,970 shares of the company’s stock, valued at approximately $371,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC bought a new position in shares of DocuSign during the 3rd quarter worth $911,000. Comerica Bank grew its holdings in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares in the last quarter. International Assets Investment Management LLC increased its position in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after purchasing an additional 431,295 shares during the period. PGGM Investments increased its position in DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after purchasing an additional 13,379 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of DocuSign by 7.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after purchasing an additional 85,987 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

DOCU stock traded up $1.05 during midday trading on Friday, hitting $77.52. 202,411 shares of the stock traded hands, compared to its average volume of 2,880,873. DocuSign, Inc. has a 1-year low of $39.65 and a 1-year high of $77.61. The stock’s fifty day simple moving average is $64.01 and its 200-day simple moving average is $58.36. The firm has a market cap of $15.73 billion, a P/E ratio of 16.13, a PEG ratio of 7.39 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted 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 firm 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 company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. On average, research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOCU. JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company upped their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird lifted their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Bank of America increased their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $63.40.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Robert Chatwani sold 14,799 shares of the firm’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 transaction, the insider now directly 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 in the last three months. 1.66% of the stock is currently owned by company 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.