Intech Investment Management LLC Acquires 127,753 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Intech Investment Management LLC raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 393.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,204 shares of the company’s stock after acquiring an additional 127,753 shares during the period. Intech Investment Management LLC owned about 0.08% of DocuSign worth $9,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. New York State Teachers Retirement System lifted its position in DocuSign by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after acquiring an additional 163 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in DocuSign by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock worth $415,000 after purchasing an additional 184 shares in the last quarter. Whittier Trust Co. increased its holdings in DocuSign by 28.8% during the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after purchasing an additional 209 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in DocuSign by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after purchasing an additional 239 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its holdings in DocuSign by 2.2% during the 1st quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after purchasing an additional 240 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Performance

NASDAQ:DOCU traded up $1.30 during mid-day trading on Friday, hitting $55.89. The stock had a trading volume of 1,240,997 shares, compared to its average volume of 2,271,018. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 107.48, a PEG ratio of 4.65 and a beta of 0.94. The company’s 50 day simple moving average is $54.82 and its 200 day simple moving average is $56.25.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The business had revenue of $709.64 million during the quarter, compared to the consensus estimate of $706.07 million. As a group, equities analysts forecast that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Bank of America lowered their target price on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, June 7th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and raised their price objective for the company from $48.00 to $62.00 in a report on Friday, April 12th. Finally, Citigroup decreased their price objective on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.36.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the sale, the chief executive officer now directly owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DocuSign news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total transaction of $27,405.08. Following the completion of the sale, the director now directly owns 6,668 shares in the company, valued at $366,206.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total transaction of $454,109.76. Following the sale, the chief executive officer now owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,518 shares of company stock worth $6,149,670. Insiders own 1.66% of the company’s stock.

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.