Maverick Capital Ltd. Has $1.92 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Maverick Capital Ltd. boosted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 5.1% in the third quarter, HoldingsChannel reports. The firm owned 30,866 shares of the company’s stock after buying an additional 1,498 shares during the period. Maverick Capital Ltd.’s holdings in DocuSign were worth $1,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOCU. Thrivent Financial for Lutherans bought a new position in shares of DocuSign during the 2nd quarter worth about $115,795,000. Pacer Advisors Inc. raised its stake in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. KBC Group NV boosted its holdings 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. Renaissance Technologies LLC grew its stake in DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after acquiring an additional 521,292 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the firm’s 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 transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock worth $4,272,768 over the last three months. 1.66% of the stock is currently owned by insiders.

DocuSign Trading Down 0.9 %

DOCU stock opened at $79.69 on Friday. The stock has a market cap of $16.17 billion, a P/E ratio of 16.81, a P/E/G ratio of 8.32 and a beta of 0.90. The stock’s fifty day simple moving average is $71.99 and its two-hundred day simple moving average is $61.08. DocuSign, Inc. has a 1-year low of $42.76 and a 1-year high of $86.75.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million for 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 firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. As a group, analysts forecast that DocuSign, Inc. will post 1.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of recent research reports. Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America raised their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Finally, Citigroup boosted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two 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 stock. Based on data from MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus price target of $65.80.

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.