Intech Investment Management LLC Buys 53,375 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Intech Investment Management LLC lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 48.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,381 shares of the company’s stock after purchasing an additional 53,375 shares during the period. Intech Investment Management LLC’s holdings in DocuSign were worth $14,784,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DOCU. Kestra Investment Management LLC bought a new position in DocuSign during the 4th quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares in the last quarter. Modus Advisors LLC bought a new position in DocuSign during the 4th quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new position in DocuSign during the 3rd quarter worth about $28,000. Finally, Avion Wealth grew its holdings in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after acquiring an additional 368 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday. UBS Group decreased their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America decreased their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday. Wedbush reissued a “neutral” rating and set a $100.00 price target on shares of DocuSign in a research report on Friday. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $95.58.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,422 shares of company stock valued at $8,903,395. 1.66% of the stock is owned by insiders.

DocuSign Stock Down 2.7 %

Shares of DocuSign stock opened at $83.43 on Tuesday. The firm has a market capitalization of $16.85 billion, a P/E ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02. The company has a 50 day moving average price of $87.82 and a 200 day moving average price of $79.69. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the firm posted $0.76 EPS. DocuSign’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal 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.