3,386 Shares in DocuSign, Inc. (NASDAQ:DOCU) Bought by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 3,386 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors have also bought and sold shares of DOCU. Comerica Bank grew its holdings in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares in the last quarter. Cetera Investment Advisers grew its holdings in DocuSign by 455.7% during the first quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock worth $2,722,000 after buying an additional 37,484 shares in the last quarter. Cetera Advisors LLC grew its holdings in DocuSign by 38.0% during the first quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock worth $766,000 after buying an additional 3,542 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Finally, DNB Asset Management AS grew its holdings in DocuSign by 16.1% during the second quarter. DNB Asset Management AS now owns 33,600 shares of the company’s stock worth $1,798,000 after buying an additional 4,668 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This represents a 6.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,833 shares of company stock valued at $3,816,297. Corporate insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. JMP Securities upped their price objective on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Robert W. Baird upped their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Citigroup upped 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. Two 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. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Performance

DOCU stock opened at $80.26 on Tuesday. The company has a market capitalization of $16.29 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 8.25 and a beta of 0.92. DocuSign, Inc. has a fifty-two week low of $44.34 and a fifty-two week high of $86.75. The stock has a fifty day moving average of $72.42 and a 200-day moving average of $61.22.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results 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. The company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. Equities analysts predict that DocuSign, Inc. will post 1.03 EPS for the current year.

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.