Arrowstreet Capital Limited Partnership Has $194.12 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Arrowstreet Capital Limited Partnership raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 201.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,158,311 shares of the company’s stock after purchasing an additional 1,442,639 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.07% of DocuSign worth $194,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PARUS FINANCE UK Ltd purchased a new position in shares of DocuSign during the 4th quarter valued at $1,862,000. Allstate Corp purchased a new position in DocuSign in the fourth quarter valued at about $531,000. Horizon Investment Services LLC acquired a new position in DocuSign in the 4th quarter worth about $479,000. DnB Asset Management AS lifted its holdings in shares of DocuSign by 12.0% during the 4th quarter. DnB Asset Management AS now owns 37,620 shares of the company’s stock valued at $3,384,000 after buying an additional 4,020 shares during the last quarter. Finally, Level Four Advisory Services LLC increased its holdings in DocuSign by 2.3% in the fourth quarter. Level Four Advisory Services LLC now owns 106,826 shares of the company’s stock worth $9,608,000 after buying an additional 2,370 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

NASDAQ DOCU opened at $83.18 on Monday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market cap of $16.84 billion, a P/E ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 1.02. The stock’s 50-day moving average is $87.18 and its 200-day moving average is $81.54.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. Equities analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOCU. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Wedbush reiterated a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Bank of America cut their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Morgan Stanley raised their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at DocuSign

In related news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. This represents a 16.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock valued at $8,579,369 in the last ninety days. 1.66% of the stock is currently 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.