Vinva Investment Management Ltd Acquires 6,606 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Vinva Investment Management Ltd lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 149,260 shares of the company’s stock after purchasing an additional 6,606 shares during the period. Vinva Investment Management Ltd’s holdings in DocuSign were worth $9,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of DocuSign by 5,000.0% in the second 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 in the last quarter. Brooklyn Investment Group bought a new stake in shares of DocuSign in the 3rd quarter worth $33,000. Mather Group LLC. raised its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of DocuSign during the third quarter valued at about $47,000. Finally, nVerses Capital LLC purchased a new position in DocuSign during the second quarter worth about $48,000. 77.64% of the stock is owned by institutional investors.

DocuSign Trading Down 5.8 %

Shares of DOCU stock opened at $80.38 on Thursday. The firm’s 50 day moving average is $71.11 and its 200 day moving average is $60.79. The stock has a market capitalization of $16.31 billion, a P/E ratio of 16.96, a PEG ratio of 9.05 and a beta of 0.90. DocuSign, Inc. has a 12 month low of $42.13 and a 12 month high of $86.75.

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

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the sale, the chief financial officer now owns 87,611 shares of the company’s stock, valued at approximately $4,859,782.17. This represents a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock worth $4,272,768 in the last quarter. 1.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DOCU has been the topic of several recent analyst reports. JMP Securities lifted their target price on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Citigroup boosted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Bank of America raised their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company lifted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus target price of $65.80.

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.