Truvestments Capital LLC Makes New $74,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Truvestments Capital LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, HoldingsChannel reports. The fund bought 1,189 shares of the company’s stock, valued at approximately $74,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DOCU. Inspire Investing LLC acquired a new stake in shares of DocuSign in the third quarter valued at about $911,000. Comerica Bank increased its stake in shares of DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares during the period. International Assets Investment Management LLC increased its stake in shares of DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after buying an additional 431,295 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after buying an additional 85,987 shares during the period. Finally, Carrera Capital Advisors acquired a new stake in shares of DocuSign in the third quarter valued at about $666,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the firm’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 owns 102,193 shares in the company, valued at $6,038,584.37. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,558 shares of company stock worth $4,272,768. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $85.30 on Wednesday. The business’s 50 day simple moving average is $70.63 and its two-hundred day simple moving average is $60.66. The firm has a market cap of $17.31 billion, a P/E ratio of 18.00, a PEG ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $86.75.

DocuSign (NASDAQ:DOCU) last announced 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 for the quarter, compared to analyst estimates 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 prior year, the company earned $0.09 earnings per share. On average, equities analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DOCU. Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their price target 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 increased their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, JMP Securities upped their target price on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.80.

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.