CWA Asset Management Group LLC Buys Shares of 16,589 DocuSign, Inc. (NASDAQ:DOCU)

CWA Asset Management Group LLC acquired a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,589 shares of the company's stock, valued at approximately $1,030,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. increased its position in DocuSign by 1.9% in the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company's stock worth $219,318,000 after purchasing an additional 75,026 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock valued at $199,518,000 after buying an additional 576,414 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after buying an additional 1,541,816 shares in the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company's stock valued at $203,536,000 after purchasing an additional 2,597,489 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of DocuSign by 4.1% in the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company's stock valued at $156,265,000 after purchasing an additional 115,616 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of recent research reports. Bank of America raised their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their target price 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. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a report on Friday, September 6th. Citigroup lifted 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. Finally, Wells Fargo & Company boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.40.

DocuSign Price Performance

Shares of DocuSign stock traded up $1.51 on Monday, reaching $80.89. 1,191,870 shares of the company were exchanged, compared to its average volume of 2,884,224. DocuSign, Inc. has a 1-year low of $40.64 and a 1-year high of $81.32. The company has a market cap of $16.42 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 8.40 and a beta of 0.90. The stock's 50 day moving average price is $64.76 and its 200-day moving average price is $58.68.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. On average, research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, 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 completion of the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction 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 completion of the transaction, the director now owns 7,202 shares of the company's stock, valued at $407,345.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is owned by insiders.

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.