Primecap Management Co. CA Buys 35,390 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Primecap Management Co. CA grew its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 487,840 shares of the company's stock after acquiring an additional 35,390 shares during the period. Primecap Management Co. CA owned 0.24% of DocuSign worth $30,290,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DOCU. J.W. Cole Advisors Inc. boosted its stake in DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company's stock valued at $493,000 after purchasing an additional 155 shares during the period. Resonant Capital Advisors LLC boosted its stake in shares of DocuSign by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company's stock valued at $1,088,000 after buying an additional 157 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company's stock worth $187,000 after purchasing an additional 172 shares in the last quarter. Dakota Wealth Management grew its stake in DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company's stock worth $1,232,000 after buying an additional 181 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of DocuSign by 5.8% during the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company's stock worth $205,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

DocuSign Price Performance

Shares of NASDAQ DOCU traded up $2.88 during mid-day trading on Friday, reaching $83.03. 2,279,544 shares of the company's stock traded hands, compared to its average volume of 2,857,887. The business has a 50-day simple moving average of $68.94 and a 200 day simple moving average of $60.07. The stock has a market cap of $16.85 billion, a P/E ratio of 17.52, a PEG ratio of 8.41 and a beta of 0.90. DocuSign, Inc. has a 1-year low of $42.13 and a 1-year high of $83.68.

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, beating analysts' consensus estimates 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 company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. Equities research analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on DocuSign from $48.00 to $50.00 and gave the company an "underweight" rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target 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. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America boosted 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. Finally, JMP Securities boosted their price objective on DocuSign from $84.00 to $108.00 and gave the company a "market outperform" rating in a research note on Friday. 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $65.80.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company's stock, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value 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 approximately $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is owned by corporate 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.