Commerce Bank Buys 28,935 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Commerce Bank raised its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 293.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,787 shares of the company's stock after buying an additional 28,935 shares during the period. Commerce Bank's holdings in DocuSign were worth $3,489,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Alpha DNA Investment Management LLC bought a new stake in DocuSign during the fourth quarter worth $1,052,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of DocuSign by 53.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 274,313 shares of the company's stock worth $24,656,000 after buying an additional 95,182 shares during the last quarter. Zacks Investment Management grew its position in DocuSign by 22.1% during the fourth quarter. Zacks Investment Management now owns 32,229 shares of the company's stock valued at $2,899,000 after buying an additional 5,824 shares during the period. NewEdge Advisors LLC raised its position in DocuSign by 7.5% in the fourth quarter. NewEdge Advisors LLC now owns 6,745 shares of the company's stock worth $607,000 after acquiring an additional 469 shares during the period. Finally, Insigneo Advisory Services LLC purchased a new position in DocuSign in the fourth quarter valued at about $329,000. Institutional investors own 77.64% of the company's stock.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock valued at $4,607,439 over the last quarter. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DOCU. Bank of America lowered their price target on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research report on Thursday, April 17th. Citigroup lifted their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Finally, HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, DocuSign currently has an average rating of "Hold" and an average target price of $92.46.

DocuSign Stock Performance

DocuSign stock traded up $1.14 during mid-day trading on Friday, hitting $82.81. 1,051,074 shares of the company traded hands, compared to its average volume of 2,406,955. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a market cap of $16.77 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The stock has a fifty day moving average price of $80.43 and a 200-day moving average price of $83.47.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. Sell-side analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

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.