TRUE Private Wealth Advisors Buys 52 Shares of DocuSign, Inc. (NASDAQ:DOCU)

TRUE Private Wealth Advisors lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,492 shares of the company’s stock after buying an additional 52 shares during the quarter. TRUE Private Wealth Advisors’ holdings in DocuSign were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its stake in shares of DocuSign by 22.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,081 shares of the company’s stock worth $582,000 after buying an additional 378 shares during the period. Principal Financial Group Inc. raised its stake in DocuSign by 116.0% during the 2nd quarter. Principal Financial Group Inc. now owns 47,645 shares of the company’s stock valued at $13,320,000 after purchasing an additional 25,588 shares during the period. Smith Moore & CO. bought a new stake in DocuSign during the 2nd quarter valued at approximately $243,000. Gulf International Bank UK Ltd raised its stake in DocuSign by 2.0% during the 2nd quarter. Gulf International Bank UK Ltd now owns 35,368 shares of the company’s stock valued at $9,887,000 after purchasing an additional 687 shares during the period. Finally, Ethic Inc. raised its stake in DocuSign by 29.1% during the 2nd quarter. Ethic Inc. now owns 3,931 shares of the company’s stock valued at $1,099,000 after purchasing an additional 885 shares during the period. 75.67% of the stock is currently owned by hedge funds and other institutional investors.

In related news, COO Scott V. Olrich sold 12,500 shares of the company’s stock in a transaction dated Tuesday, July 13th. The stock was sold at an average price of $285.61, for a total value of $3,570,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Loren Alhadeff sold 51,544 shares of the company’s stock in a transaction dated Monday, July 26th. The stock was sold at an average price of $306.22, for a total value of $15,783,803.68. Following the completion of the transaction, the executive now directly owns 193,131 shares of the company’s stock, valued at approximately $59,140,574.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,044 shares of company stock worth $30,519,079. Company insiders own 3.87% of the company’s stock.

Several equities analysts have weighed in on the company. Citigroup restated a “buy” rating and set a $389.00 price target (up previously from $386.00) on shares of DocuSign in a report on Friday, September 3rd. Wedbush raised their price target on DocuSign from $290.00 to $340.00 and gave the company an “outperform” rating in a report on Monday, August 30th. Morgan Stanley raised their price target on DocuSign from $295.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. JMP Securities lifted their target price on DocuSign from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 3rd. Finally, UBS Group lifted their target price on DocuSign from $340.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 3rd. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $309.20.

Shares of DOCU traded down $1.99 during trading hours on Wednesday, hitting $265.99. The company had a trading volume of 1,862 shares, compared to its average volume of 2,860,141. The company has a market capitalization of $52.33 billion, a PE ratio of -311.60 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.45. DocuSign, Inc. has a one year low of $179.49 and a one year high of $314.76. The company’s fifty day moving average price is $293.53 and its two-hundred day moving average price is $247.35.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Wednesday, September 1st. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.07. The business had revenue of $511.84 million for the quarter, compared to the consensus estimate of $487.99 million. DocuSign had a negative return on equity of 23.08% and a negative net margin of 9.18%. The company’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. Analysts forecast that DocuSign, Inc. will post -0.01 earnings per share for the current year.

DocuSign Profile

DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions include identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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