DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 33.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,594 shares of the company's stock after purchasing an additional 6,967 shares during the quarter. Rafferty Asset Management LLC's holdings in DocuSign were worth $2,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock valued at $54,695,000 after purchasing an additional 330,136 shares in the last quarter. KBC Group NV grew its position in shares of DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company's stock valued at $138,067,000 after buying an additional 378,233 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of DocuSign in the 4th quarter valued at $12,897,000. Principal Financial Group Inc. grew its position in shares of DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock valued at $49,179,000 after buying an additional 529,308 shares during the last quarter. Finally, Amundi grew its position in shares of DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company's stock valued at $123,486,000 after buying an additional 1,172,368 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent analyst reports. Bank of America dropped their target price on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research report on Thursday, April 17th. Hsbc Global Res raised shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Robert W. Baird set a $93.00 target price on shares of DocuSign in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and increased their target price for the company from $70.00 to $75.00 in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $92.46.

Insider Activity

In related news, insider James P. Shaughnessy sold 7,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the sale, the insider now owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. The trade was a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock valued at $3,912,239 over the last quarter. Corporate insiders own 1.01% of the company's stock.

DocuSign Stock Performance

NASDAQ DOCU opened at $91.31 on Tuesday. The firm has a market cap of $18.49 billion, a PE ratio of 18.83, a P/E/G ratio of 6.94 and a beta of 1.21. The firm's fifty day moving average is $81.41 and its two-hundred day moving average is $85.45. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business 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 business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.

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