DocuSign, Inc. (NASDAQ:DOCU) Position Boosted by Signaturefd LLC

Signaturefd LLC lifted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,686 shares of the company’s stock after purchasing an additional 183 shares during the period. Signaturefd LLC’s holdings in DocuSign were worth $152,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DOCU. Amundi grew its stake in shares of DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock worth $123,486,000 after purchasing an additional 1,172,368 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of DocuSign by 61.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after purchasing an additional 637,505 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of DocuSign in the 4th quarter worth approximately $47,920,000. Principal Financial Group Inc. grew its stake in shares of DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after purchasing an additional 529,308 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after purchasing an additional 434,312 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares of the company’s stock, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now directly owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock worth $8,579,369 over the last ninety days. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DOCU shares. Wells Fargo & Company lifted their price objective on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. UBS Group dropped their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Finally, Bank of America dropped their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $95.00.

DocuSign Stock Performance

DOCU stock opened at $88.06 on Friday. The stock has a market cap of $17.79 billion, a P/E ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. The firm has a 50 day simple moving average of $87.54 and a 200 day simple moving average of $80.31. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. Sell-side analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

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.