MBB Public Markets I LLC Buys New Position in DocuSign, Inc. (NASDAQ:DOCU)

MBB Public Markets I LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,600 shares of the company’s stock, valued at approximately $781,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. boosted its position in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC purchased a new position in DocuSign in the first quarter worth $37,000. nVerses Capital LLC purchased a new position in DocuSign in the second quarter worth $48,000. Finally, Jones Financial Companies Lllp purchased a new position in DocuSign in the fourth quarter worth $59,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the transaction, the director now directly owns 891,373 shares in the company, valued at approximately $44,426,030.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now directly owns 891,373 shares in the company, valued at approximately $44,426,030.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Shute sold 35,300 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The disclosure for this sale can be found here. Insiders have sold 438,154 shares of company stock worth $23,351,788 in the last ninety days. 1.66% of the stock is currently owned by insiders.

DocuSign Stock Performance

NASDAQ:DOCU opened at $61.42 on Wednesday. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 118.12, a PEG ratio of 6.37 and a beta of 0.93. The business’s fifty day moving average is $56.52 and its 200 day moving average is $56.41.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Equities analysts predict that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on DOCU shares. Wells Fargo & Company boosted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Citigroup upped their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America upped their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Piper Sandler dropped 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign 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.