Tyche Wealth Partners LLC Buys Shares of 3,250 DocuSign, Inc. (NASDAQ:DOCU)

Tyche Wealth Partners LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,250 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Integrated Advisors Network LLC acquired a new stake in shares of DocuSign in the third quarter valued at $217,000. abrdn plc grew its holdings in DocuSign by 67.8% during the third quarter. abrdn plc now owns 56,172 shares of the company’s stock worth $3,488,000 after acquiring an additional 22,689 shares during the period. Pallas Capital Advisors LLC bought a new stake in DocuSign in the third quarter worth about $371,000. Nisa Investment Advisors LLC acquired a new stake in DocuSign in the 3rd quarter valued at about $1,503,000. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of DocuSign during the 3rd quarter valued at about $366,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Performance

Shares of DOCU opened at $70.15 on Wednesday. The company has a market capitalization of $14.24 billion, a PE ratio of 14.80, a PEG ratio of 7.33 and a beta of 0.92. The company’s 50 day moving average price is $62.38 and its 200 day moving average price is $57.78. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $73.80.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $727.20 million. During the same period in the previous year, the company posted $0.09 EPS. DocuSign’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOCU. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Citigroup upped their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.40.

Insider Buying and Selling at DocuSign

In other 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 completion of the sale, the director now directly owns 891,373 shares of the company’s stock, valued at $44,426,030.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other DocuSign news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the sale, the chief financial officer now directly owns 78,265 shares of the company’s stock, valued at $5,384,632. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the transaction, the director now owns 891,373 shares in the company, valued at $44,426,030.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 427,554 shares of company stock worth $23,129,150 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

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.