Reston Wealth Management LLC Takes $47,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Reston Wealth Management LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 750 shares of the company’s stock, valued at approximately $47,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC bought a new position in shares of DocuSign in the 3rd quarter worth about $911,000. Comerica Bank grew its stake 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 purchasing an additional 20,110 shares during the period. International Assets Investment Management LLC increased its holdings in DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Retirement Systems of Alabama acquired a new position in DocuSign in the first quarter valued at approximately $8,700,000. Finally, PGGM Investments boosted its holdings in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after buying an additional 13,379 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Trading Up 0.6 %

Shares of DocuSign stock opened at $69.38 on Friday. The company has a market capitalization of $14.08 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 7.30 and a beta of 0.92. The stock has a fifty day simple moving average of $62.88 and a 200 day simple moving average of $57.94. DocuSign, Inc. has a 12-month low of $38.20 and a 12-month high of $73.80.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DOCU. Royal Bank of Canada lifted their price objective 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. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company raised their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Bank of America upped their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus price target of $63.40.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,725 shares of the 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 transaction, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the transaction, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. The trade was a 0.00 % 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 7,725 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,777 shares of company stock worth $7,267,469. 1.66% of the stock is owned by company insiders.

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.