Renaissance Technologies LLC Buys 205,304 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Renaissance Technologies LLC lifted its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,363,292 shares of the company's stock after buying an additional 205,304 shares during the period. DocuSign makes up approximately 0.6% of Renaissance Technologies LLC's investment portfolio, making the stock its 18th biggest position. Renaissance Technologies LLC owned about 2.16% of DocuSign worth $392,434,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI increased its stake in DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after purchasing an additional 133 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after acquiring an additional 138 shares in the last quarter. Synergy Financial Group LTD increased its position 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 worth $381,000 after acquiring an additional 140 shares in the last quarter. M&T Bank Corp raised its holdings in shares of 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 acquiring an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred 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 owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the transaction, the insider now owns 45,875 shares in the company, valued at $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock valued at $3,998,719 in the last quarter. Corporate insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on DOCU. Robert W. Baird set a $93.00 price objective on DocuSign in a report on Friday, March 14th. William Blair raised DocuSign from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Wedbush reaffirmed a "neutral" rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. HSBC upgraded shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a report on Friday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $93.85.

DocuSign Stock Performance

NASDAQ DOCU traded up $1.13 on Friday, hitting $74.35. The stock had a trading volume of 2,008,138 shares, compared to its average volume of 2,728,131. The firm has a 50-day moving average of $82.95 and a 200-day moving average of $82.90. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during 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 quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. As a group, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

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.