Plato Investment Management Ltd Grows Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Plato Investment Management Ltd increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 8.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,788 shares of the company’s stock after purchasing an additional 1,930 shares during the quarter. Plato Investment Management Ltd’s holdings in DocuSign were worth $1,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank lifted its stake in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares during the period. Vanguard Group Inc. lifted its position in DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares during the period. KBC Group NV boosted its holdings in DocuSign by 119.3% in the 4th quarter. KBC Group NV now owns 739,196 shares of the company’s stock valued at $43,945,000 after purchasing an additional 402,084 shares in the last quarter. Retirement Systems of Alabama acquired a new position in DocuSign during the 1st quarter worth approximately $8,700,000. Finally, PGGM Investments raised its stake in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after buying an additional 13,379 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on DOCU. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Robert W. Baird boosted their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Bank of America increased their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th. Finally, Wells Fargo & Company increased their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average target price of $61.45.

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares in the company, valued at $6,325,664.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated 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 directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the sale, the chief executive officer now directly owns 117,643 shares in the company, valued at $6,325,664.11. The disclosure for this sale can be found here. Insiders sold a total of 480,618 shares of company stock worth $25,432,336 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Performance

DOCU stock opened at $56.63 on Monday. The stock’s 50 day moving average price is $55.57 and its 200 day moving average price is $56.09. The firm has a market cap of $11.59 billion, a P/E ratio of 108.90, a PEG ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

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, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. On average, research analysts predict that DocuSign, Inc. will post 0.99 earnings per share for the current year.

DocuSign 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.