Primecap Management Co. CA Grows Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Primecap Management Co. CA grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 574,530 shares of the company’s stock after purchasing an additional 86,690 shares during the quarter. Primecap Management Co. CA’s holdings in DocuSign were worth $51,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Signaturefd LLC increased its position in shares of DocuSign by 12.2% during the 4th quarter. Signaturefd LLC now owns 1,686 shares of the company’s stock valued at $152,000 after purchasing an additional 183 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in DocuSign in the 4th quarter worth approximately $300,000. Natixis Advisors LLC increased its holdings in DocuSign by 81.1% in the 4th quarter. Natixis Advisors LLC now owns 25,457 shares of the company’s stock worth $2,290,000 after acquiring an additional 11,399 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in DocuSign in the 4th quarter worth approximately $285,000. Finally, Picton Mahoney Asset Management increased its holdings in DocuSign by 13.0% in the 4th quarter. Picton Mahoney Asset Management now owns 7,223 shares of the company’s stock worth $650,000 after acquiring an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DOCU shares. JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. UBS Group reduced their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Morgan Stanley upped their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday. Finally, Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.00.

DocuSign Stock Up 1.9 %

DOCU stock opened at $85.01 on Wednesday. The business’s fifty day simple moving average is $87.75 and its two-hundred day simple moving average is $79.87. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02.

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

Insider Activity

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the transaction, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,034 shares of company stock worth $5,932,352. Company 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.