Burney Co. Has $5.03 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Burney Co. boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,378 shares of the company’s stock after buying an additional 5,246 shares during the quarter. Burney Co.’s holdings in DocuSign were worth $5,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in DocuSign by 440.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of DocuSign during the 2nd quarter worth approximately $25,000. Brown Brothers Harriman & Co. raised its stake in shares of DocuSign by 381.9% during the first quarter. Brown Brothers Harriman & Co. now owns 559 shares of the company’s stock worth $60,000 after buying an additional 443 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in DocuSign by 108.9% in the first quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 295 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new position in DocuSign in the first quarter valued at approximately $35,000. 77.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Daniel D. Springer sold 289,667 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $42.09, for a total value of $12,192,084.03. Following the completion of the transaction, the director now directly owns 1,051,419 shares of the company’s stock, valued at $44,254,225.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Daniel D. Springer sold 289,667 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $42.09, for a total value of $12,192,084.03. Following the completion of the sale, the director now directly owns 1,051,419 shares in the company, valued at approximately $44,254,225.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Shute sold 13,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $43.51, for a total value of $591,997.06. Following the completion of the sale, the insider now owns 2,740 shares in the company, valued at approximately $119,217.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 592,940 shares of company stock worth $24,932,715. Corporate insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent research reports. UBS Group upped their target price on shares of DocuSign from $44.00 to $48.00 and gave the company a “sell” rating in a research report on Friday, September 8th. Morgan Stanley increased their target price on DocuSign from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. Wells Fargo & Company reduced their target price on DocuSign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Friday, September 8th. Finally, Robert W. Baird reduced their price objective on shares of DocuSign from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, September 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.69.

DocuSign Trading Up 3.9 %

DOCU opened at $42.73 on Wednesday. The stock has a market capitalization of $8.68 billion, a P/E ratio of -474.73, a P/E/G ratio of 7.47 and a beta of 0.89. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $69.45. The firm’s fifty day simple moving average is $42.21 and its 200 day simple moving average is $48.40.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 7th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. DocuSign had a negative net margin of 0.64% and a positive return on equity of 11.30%. The business had revenue of $687.69 million for the quarter, compared to analyst estimates of $677.56 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts predict that DocuSign, Inc. will post 0.4 EPS for the current fiscal year.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.