Empowered Funds LLC Has $10.66 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Empowered Funds LLC grew its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 225.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 171,669 shares of the company’s stock after purchasing an additional 118,955 shares during the quarter. Empowered Funds LLC’s holdings in DocuSign were worth $10,659,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its position in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. increased its stake in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the period. Reston Wealth Management LLC acquired a new position in DocuSign in the third quarter valued at about $47,000. nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter valued at approximately $48,000. Finally, Quarry LP bought a new stake in DocuSign during the second quarter worth $53,000. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the transaction, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock valued at $4,272,768 over the last quarter. Insiders own 1.66% of the company’s stock.

DocuSign Trading Down 1.6 %

Shares of DOCU stock opened at $79.11 on Friday. DocuSign, Inc. has a 1-year low of $42.12 and a 1-year high of $83.68. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 8.66 and a beta of 0.90. The stock has a 50-day moving average of $67.05 and a 200-day moving average of $59.48.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business 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 for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. Sell-side analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DOCU shares. JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Royal Bank of Canada raised their target price 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. Citigroup upped their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, Bank of America increased their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.40.

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.