Integrated Investment Consultants LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Integrated Investment Consultants LLC acquired a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 59,760 shares of the company's stock, valued at approximately $3,710,000.

Other hedge funds also recently bought and sold shares of the company. Foundry Partners LLC acquired a new position in shares of DocuSign during the third quarter valued at about $553,000. Primecap Management Co. CA grew its position in DocuSign by 7.8% during the 3rd quarter. Primecap Management Co. CA now owns 487,840 shares of the company's stock worth $30,290,000 after purchasing an additional 35,390 shares during the last quarter. Moran Wealth Management LLC grew its position in DocuSign by 58.8% during the 3rd quarter. Moran Wealth Management LLC now owns 12,670 shares of the company's stock worth $787,000 after purchasing an additional 4,692 shares during the last quarter. Commerce Bank increased its stake in DocuSign by 3.6% during the 3rd quarter. Commerce Bank now owns 9,852 shares of the company's stock valued at $612,000 after purchasing an additional 341 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of DocuSign in the third quarter worth $117,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 7,764 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This trade represents a 6.72 % 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 9,552 shares of DocuSign stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now owns 78,265 shares of the company's stock, valued at $5,384,632. This trade represents a 10.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 over the last 90 days. 1.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DOCU shares. Robert W. Baird raised their target price on DocuSign from $55.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their target price on DocuSign from $48.00 to $50.00 and gave the stock an "underweight" rating in a report 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 objective on shares of DocuSign from $86.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Two investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $63.40.

DocuSign Stock Performance

Shares of DOCU stock traded up $1.37 during trading hours on Thursday, reaching $80.18. The company had a trading volume of 1,335,655 shares, compared to its average volume of 2,860,437. DocuSign, Inc. has a 12-month low of $42.12 and a 12-month high of $83.68. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 8.41 and a beta of 0.90. The stock has a fifty day moving average of $68.47 and a 200-day moving average of $59.93.

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