Norden Group LLC Purchases New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Norden Group LLC acquired a new position in DocuSign, Inc. (NASDAQ:DOCUFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,847 shares of the company’s stock, valued at approximately $467,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its holdings in shares of DocuSign by 712.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,868 shares of the company’s stock worth $372,000 after acquiring an additional 7,777 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of DocuSign during the 3rd quarter worth $1,021,000. Lido Advisors LLC boosted its position in shares of DocuSign by 12.3% in the 3rd quarter. Lido Advisors LLC now owns 5,264 shares of the company’s stock worth $221,000 after buying an additional 575 shares in the last quarter. Advisory Resource Group acquired a new stake in DocuSign in the 3rd quarter valued at about $238,000. Finally, Sunbelt Securities Inc. grew its stake in DocuSign by 112.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,968 shares of the company’s stock valued at $125,000 after acquiring an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

DOCU has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Friday, June 7th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and increased their target price for the company from $48.00 to $62.00 in a report on Friday, April 12th. Bank of America cut their price target on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Morgan Stanley decreased their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Finally, Piper Sandler cut their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.36.

Check Out Our Latest Analysis on DocuSign

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the transaction, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $52.17, for a total value of $772,063.83. Following the completion of the sale, the insider now owns 68,083 shares in the company, valued at $3,551,890.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last quarter, insiders sold 97,218 shares of company stock valued at $5,183,359. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Up 0.6 %

NASDAQ:DOCU opened at $54.46 on Monday. The company has a market cap of $11.15 billion, a P/E ratio of 104.73, a P/E/G ratio of 4.53 and a beta of 0.94. The firm’s 50 day moving average is $55.41 and its two-hundred day moving average is $56.56. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76.

DocuSign (NASDAQ:DOCUGet Free Report) last issued its earnings results on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The business had revenue of $709.64 million for the quarter, compared to analyst estimates of $706.07 million. Research analysts forecast that DocuSign, Inc. will post 0.88 earnings per share for the current fiscal year.

DocuSign Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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