17,265 Shares in DocuSign, Inc. (NASDAQ:DOCU) Acquired by Meeder Asset Management Inc.

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

Several other large investors also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV lifted its stake in shares of DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. boosted its stake in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of DocuSign during the 3rd quarter valued at about $47,000. nVerses Capital LLC bought a new position in shares of DocuSign in the 2nd quarter valued at approximately $48,000. Finally, Quarry LP acquired a new stake in DocuSign in the 2nd quarter worth approximately $53,000. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Performance

Shares of DOCU stock opened at $79.52 on Wednesday. The firm has a fifty day moving average of $67.50 and a 200-day moving average of $59.66. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 8.37 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping 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 firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Activity at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the firm’s 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 completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Robert W. Baird upped their price target on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Citigroup lifted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.40.

DocuSign 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.