Optimist Retirement Group LLC Has $228,000 Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Optimist Retirement Group LLC raised its position in DocuSign, Inc. (NASDAQ:DOCU) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,255 shares of the company’s stock after buying an additional 227 shares during the period. Optimist Retirement Group LLC’s holdings in DocuSign were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. Coatue Management LLC acquired a new position in DocuSign in the fourth quarter valued at about $288,274,000. Jericho Capital Asset Management L.P. boosted its position in DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after buying an additional 2,597,489 shares in the last quarter. Norges Bank acquired a new position in DocuSign in the fourth quarter valued at about $133,826,000. Renaissance Technologies LLC lifted its position in shares of DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after purchasing an additional 576,414 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares in the company, valued at $4,859,782.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares in the company, valued at $4,859,782.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares in the company, valued at $6,325,664.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 460,864 shares of company stock worth $24,549,227. Company insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $56.64 on Thursday. The company’s 50 day simple moving average is $55.76 and its 200 day simple moving average is $56.13. The firm has a market capitalization of $11.60 billion, a P/E ratio of 108.92, a P/E/G ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Sell-side analysts expect that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Morgan Stanley reduced their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Finally, Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.45.

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.