Martingale Asset Management L P Grows Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Martingale Asset Management L P boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 45.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 46,255 shares of the company’s stock after purchasing an additional 14,426 shares during the period. Martingale Asset Management L P’s holdings in DocuSign were worth $2,872,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vinva Investment Management Ltd grew its stake in shares of DocuSign by 4.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 149,260 shares of the company’s stock valued at $9,205,000 after purchasing an additional 6,606 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of DocuSign by 14.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock worth $103,030,000 after purchasing an additional 208,813 shares during the period. Caz Investments LP grew its position in DocuSign by 50.0% in the 3rd quarter. Caz Investments LP now owns 3,000 shares of the company’s stock valued at $186,000 after buying an additional 1,000 shares during the last quarter. Glenmede Trust Co. NA increased its stake in DocuSign by 28.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 793,301 shares of the company’s stock valued at $49,256,000 after buying an additional 175,952 shares during the period. Finally, Freedom Investment Management Inc. purchased a new position in DocuSign during the 3rd quarter worth $201,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Down 0.9 %

DOCU stock opened at $79.69 on Friday. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 8.32 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.76 and a 52-week high of $86.75. The stock’s fifty day simple moving average is $71.99 and its 200-day simple moving average is $61.08.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same period in the prior year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that DocuSign, Inc. will post 1.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada lifted their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JMP Securities upped their price target on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.80.

Insider Activity at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the sale, the insider now owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is owned by 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.