Pacer Advisors Inc. Has $188.32 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Pacer Advisors Inc. lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 77.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,519,969 shares of the company’s stock after buying an additional 1,541,816 shares during the period. Pacer Advisors Inc. owned about 1.72% of DocuSign worth $188,318,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. raised its stake in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC bought a new stake in shares of DocuSign during the 1st quarter worth approximately $37,000. ICA Group Wealth Management LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $39,000. Finally, nVerses Capital LLC bought a new position in shares of DocuSign in the second quarter valued at $48,000. Institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 0.1 %

Shares of NASDAQ DOCU opened at $57.97 on Friday. The firm has a market cap of $11.87 billion, a P/E ratio of 111.48, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93. The business’s 50 day moving average is $55.87 and its 200-day moving average is $56.17. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data 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 firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. Analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’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 sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at $6,038,584.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 460,864 shares of company stock valued at $24,549,227. 1.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DOCU. Citigroup upped their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Piper Sandler lowered their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Royal Bank of Canada raised their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus price target 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.