Lingohr Asset Management GmbH Makes New $538,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Lingohr Asset Management GmbH purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,864 shares of the company’s stock, valued at approximately $538,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCU. Itau Unibanco Holding S.A. purchased a new position in DocuSign in the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC purchased a new position in DocuSign in the 4th quarter worth approximately $30,000. Brooklyn Investment Group purchased a new stake in shares of DocuSign in the 3rd quarter valued at $33,000. Modus Advisors LLC purchased a new stake in shares of DocuSign in the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DocuSign stock opened at $85.61 on Thursday. The company has a 50-day moving average of $87.67 and a 200 day moving average of $79.91. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. On average, equities analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

DOCU has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $70.00 to $75.00 in a research note on Monday, March 10th. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Bank of America dropped their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,034 shares of company stock valued at $5,932,352. 1.66% of the stock is owned by insiders.

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.