Plato Investment Management Ltd Has $1.30 Million Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Plato Investment Management Ltd raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1,113.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 21,858 shares of the company’s stock after purchasing an additional 20,057 shares during the period. Plato Investment Management Ltd’s holdings in DocuSign were worth $1,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC lifted its position in shares of DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after purchasing an additional 469 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of DocuSign in the 1st quarter worth approximately $37,000. ICA Group Wealth Management LLC bought a new position in shares of DocuSign in the fourth quarter valued at approximately $39,000. Desjardins Global Asset Management Inc. grew its holdings in shares of DocuSign by 60.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock valued at $57,000 after acquiring an additional 364 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of DocuSign during the fourth quarter valued at approximately $59,000. 77.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Piper Sandler lowered their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada reduced their target price on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research report on Friday, June 7th. Bank of America lowered their price target on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.36.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 499 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total transaction of $27,405.08. Following the transaction, the director now directly owns 6,668 shares in the company, valued at $366,206.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $52.17, for a total value of $772,063.83. Following the completion of the sale, the insider now owns 68,083 shares of the company’s stock, valued at approximately $3,551,890.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $54.92, for a total value of $27,405.08. Following the transaction, the director now owns 6,668 shares in the company, valued at $366,206.56. The disclosure for this sale can be found here. Insiders have sold 109,432 shares of company stock worth $5,695,560 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Down 3.4 %

Shares of NASDAQ:DOCU traded down $1.87 during midday trading on Thursday, reaching $53.61. 2,181,738 shares of the company traded hands, compared to its average volume of 2,799,913. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The firm’s fifty day moving average price is $54.13 and its two-hundred day moving average price is $56.16. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 104.73, a price-to-earnings-growth ratio of 8.62 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $709.64 million for the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. Analysts forecast that DocuSign, Inc. will post 0.88 earnings per share 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.