Heron Bay Capital Management Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Heron Bay Capital Management bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,586 shares of the company’s stock, valued at approximately $834,000.

A number of other institutional investors have also made changes to their positions in the business. Dakota Wealth Management boosted its position in DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after purchasing an additional 181 shares during the period. New York State Teachers Retirement System lifted its stake in shares of DocuSign by 1.0% during the 1st quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock worth $1,100,000 after buying an additional 187 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in shares of DocuSign by 1.1% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company’s stock worth $1,008,000 after buying an additional 214 shares during the period. Motley Fool Asset Management LLC grew its stake in DocuSign by 6.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock valued at $236,000 after buying an additional 224 shares during the last quarter. Finally, Optimist Retirement Group LLC grew its stake in DocuSign by 5.6% in the 2nd quarter. Optimist Retirement Group LLC now owns 4,255 shares of the company’s stock valued at $228,000 after buying an additional 227 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the transaction, the director now owns 923,445 shares of the company’s stock, valued at $49,662,872.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel D. Springer sold 287,052 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the transaction, the director now owns 923,445 shares of the company’s stock, valued at $49,662,872.10. The disclosure for this sale can be found here. Insiders have sold 460,864 shares of company stock valued at $24,549,227 over the last ninety days. 1.66% of the stock is owned by corporate insiders.

DocuSign Trading Up 0.1 %

Shares of NASDAQ:DOCU opened at $57.97 on Friday. The stock has a market capitalization of $11.87 billion, a PE ratio of 111.48, a PEG ratio of 5.99 and a beta of 0.93. The firm has a 50 day moving average of $55.87 and a 200-day moving average of $56.20. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76.

DocuSign (NASDAQ:DOCU) last released 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. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DOCU shares. Royal Bank of Canada boosted their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company boosted 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. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Robert W. Baird raised their price target 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.