Primecap Management Co. CA Purchases 35,390 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Primecap Management Co. CA lifted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 7.8% in the third quarter, HoldingsChannel reports. The firm owned 487,840 shares of the company’s stock after purchasing an additional 35,390 shares during the quarter. Primecap Management Co. CA’s holdings in DocuSign were worth $30,290,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jericho Capital Asset Management L.P. lifted its position in DocuSign by 316.6% during 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 purchasing an additional 2,597,489 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of DocuSign in the 2nd quarter valued at about $115,795,000. Pacer Advisors Inc. lifted its holdings in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after acquiring an additional 1,541,816 shares during the last quarter. KBC Group NV grew its position in DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after acquiring an additional 783,419 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in 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 acquiring an additional 576,414 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DOCU shares. Wells Fargo & Company lifted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.40.

DocuSign Price Performance

Shares of DOCU opened at $80.18 on Friday. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 8.41 and a beta of 0.90. DocuSign, Inc. has a 1-year low of $42.12 and a 1-year high of $83.68. The company has a 50-day moving average of $68.94 and a 200 day moving average of $60.07.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction 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 approximately $6,038,584.37. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

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.