Quantbot Technologies LP Invests $1.42 Million in DocuSign, Inc. (NASDAQ:DOCU)

Quantbot Technologies LP bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,803 shares of the company’s stock, valued at approximately $1,421,000.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in DocuSign in the fourth quarter valued at approximately $1,494,000. Oxford Financial Group LTD. LLC purchased a new position in shares of DocuSign in the fourth quarter valued at $1,639,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in DocuSign during the 4th quarter valued at $4,032,000. Lingohr Asset Management GmbH purchased a new stake in DocuSign during the 4th quarter worth $538,000. Finally, Contrarius Group Holdings Ltd acquired a new position in DocuSign in the 4th quarter worth $4,624,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $89.00 on Tuesday. The company’s fifty day moving average is $87.52 and its two-hundred day moving average is $80.69. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating 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 business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DOCU shares. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and raised their target price for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Citigroup raised their price objective on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Bank of America dropped their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Finally, 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, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at $7,817,472. This represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,851 shares of company stock worth $8,579,369. 1.66% of the stock is currently owned by company insiders.

DocuSign Profile

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.