Oak Harvest Investment Services Invests $683,000 in DocuSign, Inc. (NASDAQ:DOCU)

Oak Harvest Investment Services acquired a new position in shares of 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 11,000 shares of the company's stock, valued at approximately $683,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised 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 worth $27,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. increased its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company's stock valued at $31,000 after acquiring an additional 564 shares during the period. nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter valued at $48,000. Quarry LP acquired a new position in shares of DocuSign in the 2nd quarter valued at $53,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of DocuSign in the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Activity at DocuSign

In related news, Director Daniel D. Springer sold 70,983 shares of the business's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company's stock, valued at approximately $44,426,030.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel D. Springer sold 70,983 shares of the business's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company's stock, valued at approximately $44,426,030.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares of the company's stock, valued at $6,038,584.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,777 shares of company stock valued at $7,267,469. 1.66% of the stock is owned by insiders.

DocuSign Trading Up 0.6 %

Shares of NASDAQ:DOCU traded up $0.40 during midday trading on Thursday, hitting $69.38. 1,544,039 shares of the stock were exchanged, compared to its average volume of 2,909,969. The stock has a market cap of $14.08 billion, a P/E ratio of 14.64, a PEG ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a twelve month low of $38.20 and a twelve month high of $73.80. The company has a 50 day moving average price of $62.88 and a 200-day moving average price of $57.94.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The business 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 business's revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. On average, equities research analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America lifted 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. Royal Bank of Canada lifted their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a "sector perform" rating in a research report on Friday, September 6th. Robert W. Baird lifted their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a "neutral" 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 report on Thursday, September 5th. Finally, Wells Fargo & Company lifted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an "underweight" rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has an average rating of "Hold" and an average price target of $63.40.

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.