Schroder Investment Management Group Increases Stake in DocuSign, Inc. (NASDAQ:DOCU)

Schroder Investment Management Group raised its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 825,227 shares of the company’s stock after acquiring an additional 64,228 shares during the quarter. Schroder Investment Management Group owned approximately 0.41% of DocuSign worth $75,673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign during the third quarter valued at approximately $28,000. Kestra Investment Management LLC purchased a new position in DocuSign during the fourth quarter valued at $30,000. Modus Advisors LLC bought a new stake in DocuSign in the fourth quarter worth $36,000. First Horizon Advisors Inc. grew its stake in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Finally, Avion Wealth increased its holdings in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Trading Down 2.1 %

DOCU opened at $81.40 on Tuesday. The company’s 50 day moving average is $87.01 and its 200 day moving average is $81.71. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

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

Insider Buying and Selling

In related news, 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 transaction of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This trade represents a 16.97 % 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, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,851 shares of company stock valued at $8,579,369. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DOCU. Wedbush restated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, Citigroup increased their price objective on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Two equities research 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.83.

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.