Inspire Investing LLC Acquires Shares of 14,668 DocuSign, Inc. (NASDAQ:DOCU)

Inspire Investing LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 14,668 shares of the company's stock, valued at approximately $911,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV grew its holdings in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company's stock valued at $27,000 after purchasing an additional 500 shares during the period. Mather Group LLC. grew its stake in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company's stock worth $31,000 after acquiring an additional 564 shares during the period. Register Financial Advisors LLC purchased a new stake in DocuSign in the 1st quarter worth about $37,000. nVerses Capital LLC purchased a new stake in DocuSign in the 2nd quarter worth about $48,000. Finally, Quarry LP bought a new stake in DocuSign in the 2nd quarter valued at about $53,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the sale, the director now owns 891,373 shares in the company, valued at $44,426,030.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Daniel D. Springer sold 287,052 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the sale, the director now owns 923,445 shares of the company's stock, valued at approximately $49,662,872.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares in the company, valued at approximately $44,426,030.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 418,002 shares of company stock worth $22,471,973. Corporate insiders own 1.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DOCU shares. Citigroup increased their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. 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. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Wells Fargo & Company raised their price target on DocuSign from $48.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, September 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research note on Friday, September 6th. Two research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $63.40.

DocuSign Stock Performance

DocuSign stock traded up $1.18 during midday trading on Tuesday, hitting $70.04. 3,061,558 shares of the company's stock were exchanged, compared to its average volume of 2,920,344. The stock has a 50-day moving average price of $59.07 and a two-hundred day moving average price of $56.96. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $70.19. The company has a market cap of $14.34 billion, a P/E ratio of 134.69, a PEG ratio of 7.33 and a beta of 0.92.

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

DocuSign Company 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.