Harvest Fund Management Co. Ltd Acquires Shares of 4,926 DocuSign, Inc. (NASDAQ:DOCU)

Harvest Fund Management Co. Ltd purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,926 shares of the company’s stock, valued at approximately $306,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Inspire Investing LLC purchased a new stake in shares of DocuSign in the 3rd quarter worth about $911,000. Comerica Bank grew its holdings in DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the period. International Assets Investment Management LLC increased its stake in shares of DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of DocuSign by 7.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after purchasing an additional 85,987 shares during the last quarter. Finally, Carrera Capital Advisors purchased a new position in shares of DocuSign during the third quarter valued at approximately $666,000. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Citigroup increased their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Robert W. Baird lifted their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company upped their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Bank of America boosted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $65.80.

DocuSign Price Performance

Shares of DOCU stock opened at $85.30 on Wednesday. DocuSign, Inc. has a one year low of $42.13 and a one year high of $86.75. The company’s fifty day moving average price is $70.63 and its 200-day moving average price is $60.66. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 8.79 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. This trade represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by company insiders.

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.