Varma Mutual Pension Insurance Co Invests $9.13 Million in DocuSign, Inc. (NASDAQ:DOCU)

Varma Mutual Pension Insurance Co purchased a new position in DocuSign, Inc. (NASDAQ:DOCUGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 159,041 shares of the company’s stock, valued at approximately $9,125,000. Varma Mutual Pension Insurance Co owned approximately 0.08% of DocuSign at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DOCU. Capital World Investors raised its position in DocuSign by 128.3% during the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after acquiring an additional 3,193,727 shares in the last quarter. Vanguard Group Inc. raised its position in DocuSign by 20.3% during the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after acquiring an additional 2,917,683 shares in the last quarter. Flossbach Von Storch AG raised its position in DocuSign by 1,736.8% during the first quarter. Flossbach Von Storch AG now owns 2,387,867 shares of the company’s stock valued at $255,788,000 after acquiring an additional 2,257,867 shares in the last quarter. Polen Capital Management LLC raised its position in DocuSign by 48.5% during the first quarter. Polen Capital Management LLC now owns 5,551,792 shares of the company’s stock valued at $594,708,000 after acquiring an additional 1,813,284 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in DocuSign by 51.9% during the first quarter. Fisher Asset Management LLC now owns 4,637,015 shares of the company’s stock valued at $496,717,000 after acquiring an additional 1,584,989 shares in the last quarter. 76.18% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Performance

Shares of DocuSign stock traded up $2.49 during midday trading on Thursday, hitting $46.35. The company had a trading volume of 3,408,499 shares, compared to its average volume of 4,550,595. DocuSign, Inc. has a 1-year low of $39.57 and a 1-year high of $257.48. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day simple moving average is $49.08 and its two-hundred day simple moving average is $61.17. The stock has a market cap of $9.31 billion, a PE ratio of -85.83 and a beta of 1.12.

DocuSign (NASDAQ:DOCUGet Rating) last posted its quarterly earnings results on Thursday, September 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). DocuSign had a negative return on equity of 21.74% and a negative net margin of 4.65%. The business had revenue of $622.18 million for the quarter, compared to analyst estimates of $602.25 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, equities analysts predict that DocuSign, Inc. will post -0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley lowered shares of DocuSign from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $73.00 to $47.00 in a research report on Monday, October 3rd. JMP Securities lowered their price target on DocuSign from $151.00 to $84.00 and set a “market outperform” rating on the stock in a report on Friday, September 2nd. Citigroup lowered their price target on DocuSign from $90.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, September 8th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and set a $65.00 price target on the stock in a report on Friday, September 9th. Finally, Wells Fargo & Company increased their price target on DocuSign from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, September 9th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $62.38.

About DocuSign

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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