Contrarius Group Holdings Ltd Purchases Shares of 51,411 DocuSign, Inc. (NASDAQ:DOCU)

Contrarius Group Holdings Ltd purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 51,411 shares of the company’s stock, valued at approximately $4,624,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. Oppenheimer Asset Management Inc. boosted its stake in shares of DocuSign by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after acquiring an additional 481 shares in the last quarter. Metis Global Partners LLC bought a new stake in shares of DocuSign during the 3rd quarter worth $224,000. CIBC Asset Management Inc boosted its stake in shares of DocuSign by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 7,293 shares of the company’s stock worth $453,000 after acquiring an additional 372 shares in the last quarter. Natixis Advisors LLC bought a new stake in shares of DocuSign during the 3rd quarter worth $873,000. Finally, Claro Advisors LLC bought a new stake in shares of DocuSign during the 3rd quarter worth $236,000. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on DOCU. JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. UBS Group reduced their target price on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and increased their target price for the company from $70.00 to $75.00 in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the transaction, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,034 shares of company stock worth $5,932,352 over the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Up 0.7 %

Shares of NASDAQ:DOCU opened at $85.61 on Thursday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a fifty day simple moving average of $87.67 and a 200 day simple moving average of $79.91. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current 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.