Primecap Management Co. CA Acquires 86,690 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Primecap Management Co. CA raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 17.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 574,530 shares of the company’s stock after purchasing an additional 86,690 shares during the period. Primecap Management Co. CA owned approximately 0.28% of DocuSign worth $51,673,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares in the last quarter. Geode Capital Management LLC boosted its stake in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after acquiring an additional 53,554 shares in the last quarter. FMR LLC boosted its stake in DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after acquiring an additional 315,073 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after acquiring an additional 637,505 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of DocuSign by 14.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock valued at $103,030,000 after buying an additional 208,813 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 1.9 %

Shares of DocuSign stock opened at $85.01 on Wednesday. The company’s fifty day simple moving average is $87.75 and its two-hundred day simple moving average is $79.87. The company has a market cap of $17.17 billion, a P/E ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the firm earned $0.76 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on DOCU. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Morgan Stanley raised their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday. Jefferies Financial Group lifted their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird set a $93.00 target price on shares of DocuSign in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.00.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,034 shares of company stock worth $5,932,352. 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.