Fulcrum Asset Management LLP grew its position in shares of Docusign Inc. (NASDAQ:DOCU – Free Report) by 64,697.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,414 shares of the company’s stock after buying an additional 43,347 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Docusign were worth $2,908,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Docusign in the second quarter worth about $927,059,000. Arrowstreet Capital Limited Partnership increased its holdings in Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after purchasing an additional 2,283,996 shares during the period. Renaissance Technologies LLC increased its holdings in Docusign by 4.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock valued at $150,293,000 after purchasing an additional 123,100 shares during the period. Quantinno Capital Management LP raised its position in Docusign by 51.9% during the 1st quarter. Quantinno Capital Management LP now owns 1,608,631 shares of the company’s stock valued at $76,265,000 after purchasing an additional 549,603 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Docusign during the 2nd quarter valued at approximately $56,219,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on DOCU shares. Wells Fargo & Company increased their price objective on Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, September 4th. BTIG Research boosted their target price on Docusign from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Citigroup boosted their target price on Docusign from $54.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Piper Sandler upped their target price on Docusign from $52.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Finally, Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Docusign has a consensus rating of “Hold” and an average price target of $67.62.
Check Out Our Latest Research Report on DOCU
Docusign Price Performance
Shares of NASDAQ DOCU opened at $77.66 on Wednesday. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $85.90. The stock has a market capitalization of $14.51 billion, a P/E ratio of 46.28, a P/E/G ratio of 2.86 and a beta of 0.80. The company’s 50-day moving average is $73.11 and its 200 day moving average is $55.44.
Docusign (NASDAQ:DOCU – Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.09 by $0.07. The business had revenue of $875.75 million during the quarter, compared to analyst estimates of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. Docusign’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. Research analysts anticipate that Docusign Inc. will post 2.15 earnings per share for the current year.
Insider Transactions at Docusign
In other news, insider Robert Chatwani sold 14,676 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $69.41, for a total value of $1,018,661.16. Following the completion of the transaction, the insider owned 75,928 shares in the company, valued at $5,270,162.48. This trade represents a 16.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter Solvik sold 46,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $65.24, for a total value of $3,001,040.00. Following the completion of the transaction, the director owned 49,558 shares of the company’s stock, valued at approximately $3,233,163.92. The trade was a 48.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 154,168 shares of company stock worth $10,491,896. 0.59% of the stock is owned by insiders.
About Docusign
DocuSign, Inc. provides software for preparing, signing, managing and automating agreements. Its platform helps businesses and individuals complete agreements digitally, reducing reliance on paper-based processes. The company’s offerings include DocuSign eSignature, which enables users to sign and request signatures electronically, as well as tools for contract lifecycle management and agreement workflows. Its Intelligent Agreement Management products use artificial intelligence to help organizations analyze and manage agreement-related information and processes.
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