O Shaughnessy Asset Management LLC Grows Stake in DocuSign, Inc. (NASDAQ:DOCU)

O Shaughnessy Asset Management LLC grew its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 111.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,712 shares of the company’s stock after buying an additional 11,455 shares during the period. O Shaughnessy Asset Management LLC’s holdings in DocuSign were worth $1,953,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares during the period. KBC Group NV lifted its position in DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after purchasing an additional 378,233 shares during the last quarter. Jennison Associates LLC purchased a new stake in DocuSign during the 4th quarter valued at $12,897,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of DocuSign during the fourth quarter worth about $720,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research reports. Wells Fargo & Company lifted their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and raised their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $95.83.

DocuSign Stock Down 6.7 %

NASDAQ:DOCU opened at $72.21 on Friday. The stock has a market capitalization of $14.62 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The stock’s 50-day moving average price is $86.02 and its 200-day moving average price is $81.98. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

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

Insider Buying and Selling at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the transaction, the director now owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares of the company’s stock, valued at approximately $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,851 shares of company stock worth $4,911,319. Insiders own 1.66% of the company’s stock.

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.