Vega Investment Solutions Buys Shares of 16,733 DocuSign, Inc. (NASDAQ:DOCU)

Vega Investment Solutions acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,733 shares of the company's stock, valued at approximately $1,505,000. DocuSign makes up about 1.2% of Vega Investment Solutions' holdings, making the stock its 18th biggest position.

Other institutional investors have also modified their holdings of the company. 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 worth $539,000 after buying an additional 133 shares during the period. Rakuten Securities Inc. grew its stake in shares of DocuSign by 20.9% in 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 during the period. M&T Bank Corp increased its position in shares of DocuSign by 1.3% during the fourth 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 period. Finally, TD Waterhouse Canada Inc. raised its stake in shares of DocuSign by 34.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock valued at $50,000 after acquiring an additional 143 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded up $0.69 during trading on Wednesday, hitting $86.94. 772,712 shares of the company were exchanged, compared to its average volume of 2,757,584. The firm's 50 day moving average price is $81.76 and its 200-day moving average price is $85.85. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The stock has a market capitalization of $17.60 billion, a P/E ratio of 17.92, a PEG ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the business earned $0.76 EPS. DocuSign's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wedbush reissued a "neutral" rating and set a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Robert W. Baird set a $93.00 price objective on DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. William Blair reaffirmed an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 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 given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $92.46.

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.