Arrowstreet Capital Limited Partnership Raises Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Arrowstreet Capital Limited Partnership increased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 201.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,158,311 shares of the company’s stock after acquiring an additional 1,442,639 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in DocuSign were worth $194,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Citizens Financial Group Inc. RI increased its position in shares of DocuSign by 2.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. raised its holdings in DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after buying an additional 138 shares during the last quarter. Synergy Financial Group LTD raised its stake in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after acquiring an additional 140 shares during the last quarter. M&T Bank Corp lifted its holdings in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the sale, the insider now owns 43,781 shares in the company, valued at $3,947,732.77. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,851 shares of company stock valued at $8,579,369. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

DOCU stock opened at $83.18 on Monday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The business has a 50-day moving average price of $87.18 and a 200 day moving average price of $81.54. The company has a market capitalization of $16.84 billion, a P/E ratio of 17.15, a PEG ratio of 6.94 and a beta of 1.02.

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

Wall Street Analyst Weigh In

DOCU has been the topic of several research reports. JMP Securities restated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Jefferies Financial Group lifted their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.00.

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.