Victory Capital Management Inc. Has $25.45 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Victory Capital Management Inc. grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 211.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 409,877 shares of the company’s stock after acquiring an additional 278,252 shares during the period. Victory Capital Management Inc. owned 0.20% of DocuSign worth $25,449,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its stake 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 purchasing an additional 500 shares during the period. Mather Group LLC. increased its stake in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at $47,000. nVerses Capital LLC acquired a new position in shares of DocuSign during the 2nd quarter valued at $48,000. Finally, Quarry LP bought a new position in DocuSign during the second quarter worth $53,000. 77.64% of the stock is owned by institutional investors.

DocuSign Price Performance

DOCU opened at $79.11 on Monday. The firm’s fifty day moving average price is $67.05 and its two-hundred day moving average price is $59.50. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 8.37 and a beta of 0.90. DocuSign, Inc. has a 1 year low of $42.12 and a 1 year high of $83.68.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now directly owns 87,611 shares of the company’s stock, valued at approximately $4,859,782.17. The trade was a 13.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s 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 $7,542,358.75. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 over the last three months. Corporate insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

DOCU has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Bank of America increased their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Finally, Citigroup upped their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Company 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.