Vinva Investment Management Ltd Acquires 6,606 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Vinva Investment Management Ltd lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,260 shares of the company’s stock after buying an additional 6,606 shares during the period. Vinva Investment Management Ltd owned about 0.07% of DocuSign worth $9,205,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of DOCU. Inspire Investing LLC acquired a new position in DocuSign during the third quarter worth about $911,000. Comerica Bank grew its holdings in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after purchasing an additional 20,110 shares during the last quarter. International Assets Investment Management LLC increased its position in DocuSign by 5,660.8% during the 3rd 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. Robeco Institutional Asset Management B.V. lifted its stake in DocuSign by 7.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after purchasing an additional 85,987 shares during the last quarter. Finally, Carrera Capital Advisors acquired a new stake in DocuSign in the third quarter valued at approximately $666,000. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Citigroup increased their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JMP Securities boosted their price target on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada raised their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $65.80.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $80.38 on Thursday. The company’s 50 day moving average price is $71.11 and its 200-day moving average price is $60.79. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $86.75. The company has a market capitalization of $16.31 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (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 business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Activity at DocuSign

In related news, 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 transaction of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock worth $4,272,768 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

About DocuSign

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.