IFM Investors Pty Ltd Increases Position in DocuSign, Inc. (NASDAQ:DOCU)

IFM Investors Pty Ltd raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 18.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 40,191 shares of the company’s stock after buying an additional 6,319 shares during the period. IFM Investors Pty Ltd’s holdings in DocuSign were worth $2,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in DocuSign by 321.3% during the third quarter. Assenagon Asset Management S.A. now owns 214,877 shares of the company’s stock worth $9,025,000 after purchasing an additional 163,875 shares during the period. Executive Wealth Management LLC purchased a new stake in DocuSign during the 3rd quarter worth approximately $1,000,000. SG Americas Securities LLC lifted its holdings in DocuSign by 93.1% during the 4th quarter. SG Americas Securities LLC now owns 78,423 shares of the company’s stock worth $4,662,000 after buying an additional 37,801 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of DocuSign by 77.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock valued at $51,057,000 after acquiring an additional 531,682 shares in the last quarter. Finally, Grimes & Company Inc. purchased a new position in DocuSign in the third quarter valued at $12,047,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOCU. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Wells Fargo & Company reduced their target price on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, February 5th. Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, April 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.25.

DocuSign Stock Performance

NASDAQ DOCU traded down $0.15 during trading hours on Friday, hitting $57.20. The company had a trading volume of 1,117,148 shares, compared to its average volume of 1,479,879. The business has a 50 day moving average of $56.49 and a 200-day moving average of $52.65. The company has a market cap of $11.75 billion, a PE ratio of 158.89, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. Sell-side analysts expect that DocuSign, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now owns 6,169 shares in the company, valued at approximately $326,895.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DocuSign news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the sale, the director now directly owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,871 shares of company stock worth $3,176,199. Insiders own 17.80% 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.