Meeder Asset Management Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Meeder Asset Management Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,265 shares of the company’s stock, valued at approximately $1,072,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV raised its position in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Mather Group LLC. raised its position in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the period. Reston Wealth Management LLC bought a new position in DocuSign in the third quarter valued at approximately $47,000. nVerses Capital LLC bought a new stake in DocuSign in the 2nd quarter valued at $48,000. Finally, Quarry LP bought a new stake in shares of DocuSign in the second quarter valued at about $53,000. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DOCU shares. Wells Fargo & Company boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Robert W. Baird increased their price objective on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Finally, Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.40.

DocuSign Price Performance

Shares of DOCU opened at $79.52 on Wednesday. The company’s 50-day moving average is $67.50 and its 200-day moving average is $59.66. The firm has a market capitalization of $16.14 billion, a PE ratio of 16.78, a PEG ratio of 8.37 and a beta of 0.90. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68.

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

Insiders Place Their Bets

In related news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock worth $4,272,768 in the last 90 days. Company insiders own 1.66% of the company’s stock.

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.