Evergreen Capital Management LLC Purchases 2,048 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Evergreen Capital Management LLC raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 264,919 shares of the company’s stock after acquiring an additional 2,048 shares during the period. Evergreen Capital Management LLC owned about 0.13% of DocuSign worth $14,173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Beck Capital Management LLC acquired a new position in DocuSign in the 2nd quarter valued at approximately $425,000. Delap Wealth Advisory LLC grew its stake in shares of DocuSign by 10.5% in the second quarter. Delap Wealth Advisory LLC now owns 11,488 shares of the company’s stock worth $615,000 after purchasing an additional 1,089 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in DocuSign by 20.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,545 shares of the company’s stock worth $86,000 after purchasing an additional 263 shares during the last quarter. Heron Bay Capital Management bought a new position in DocuSign during the 2nd quarter worth $834,000. Finally, Ensign Peak Advisors Inc grew its position in shares of DocuSign by 15.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 134,837 shares of the company’s stock valued at $7,214,000 after buying an additional 18,415 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on DOCU shares. Wells Fargo & Company upped their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Morgan Stanley decreased their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Citigroup boosted their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Bank of America raised their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus price target of $61.45.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Teresa Briggs sold 534 shares of the company’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 completion of the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at $407,345.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 446,065 shares of company stock valued at $23,777,163. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of DocuSign stock opened at $57.97 on Monday. The stock has a market capitalization of $11.87 billion, a PE ratio of 111.48, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The stock has a 50 day moving average price of $55.87 and a two-hundred day moving average price of $56.23.

DocuSign (NASDAQ:DOCU) last released 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. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Research analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current year.

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.