Ethic Inc. Purchases Shares of 3,794 DocuSign, Inc. (NASDAQ:DOCU)

Ethic Inc. acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,794 shares of the company's stock, valued at approximately $341,000.

Several other institutional investors also recently modified their holdings of DOCU. Miracle Mile Advisors LLC bought a new stake in DocuSign in the fourth quarter valued at $257,000. Fifth Third Wealth Advisors LLC purchased a new position in shares of DocuSign during the fourth quarter valued at approximately $519,000. Assenagon Asset Management S.A. grew its stake in shares of DocuSign by 67.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 411,012 shares of the company's stock worth $36,966,000 after buying an additional 165,797 shares during the last quarter. Park Avenue Securities LLC increased its position in DocuSign by 183.4% during the 4th quarter. Park Avenue Securities LLC now owns 10,558 shares of the company's stock valued at $950,000 after buying an additional 6,832 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in DocuSign during the fourth quarter valued at $846,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

Shares of DOCU stock traded down $1.58 during trading on Tuesday, reaching $89.73. The company's stock had a trading volume of 2,052,729 shares, compared to its average volume of 2,754,426. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 6.94 and a beta of 1.21. The stock's 50-day moving average price is $81.41 and its 200 day moving average price is $85.45.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DOCU. William Blair restated an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. Citigroup increased their price target on DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a report on Friday, March 14th. HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a report on Friday, April 11th. Wells Fargo & Company cut their price objective on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Robert W. Baird set a $93.00 price target on shares of DocuSign in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of "Hold" and an average target price of $92.46.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares in the company, valued at $6,555,610.04. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,851 shares of company stock valued at $3,912,239. Insiders own 1.01% 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.