4,926 Shares in DocuSign, Inc. (NASDAQ:DOCU) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,926 shares of the company’s stock, valued at approximately $306,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. J.W. Cole Advisors Inc. raised its position in shares of DocuSign by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after buying an additional 155 shares in the last quarter. Resonant Capital Advisors LLC raised its position in DocuSign by 0.9% during the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after purchasing an additional 157 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after purchasing an additional 172 shares during the last quarter. Dakota Wealth Management boosted its holdings in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after purchasing an additional 181 shares during the period. Finally, Covestor Ltd increased its position in shares of DocuSign by 5.8% during the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock valued at $205,000 after purchasing an additional 182 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total transaction of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares of the company’s stock, valued at approximately $4,859,782.17. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DOCU has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Citigroup raised their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, JMP Securities raised their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.80.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $85.30 on Wednesday. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $86.75. The stock has a 50 day moving average price of $70.63 and a 200 day moving average price of $60.66.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. DocuSign’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

DocuSign Company 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.