Vega Investment Solutions Makes New $1.51 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

Vega Investment Solutions purchased a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,733 shares of the company's stock, valued at approximately $1,505,000. DocuSign accounts for 1.2% of Vega Investment Solutions' portfolio, making the stock its 18th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOCU. Vise Technologies Inc. acquired a new position in shares of DocuSign in the 4th quarter valued at approximately $221,000. McIlrath & Eck LLC raised its position in shares of DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after purchasing an additional 357 shares in the last quarter. Castleark Management LLC acquired a new position in shares of DocuSign in the 4th quarter valued at approximately $17,669,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of DocuSign by 3.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,709,807 shares of the company's stock valued at $153,780,000 after purchasing an additional 50,440 shares in the last quarter. Finally, Vident Advisory LLC raised its position in shares of DocuSign by 19.2% in the 4th quarter. Vident Advisory LLC now owns 30,677 shares of the company's stock valued at $2,759,000 after purchasing an additional 4,931 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOCU. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 target price on shares of DocuSign in a research report on Thursday, April 17th. Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price on the stock in a research report on Friday, April 11th. Wedbush reissued a "neutral" rating and set a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $92.46.

DocuSign Stock Up 1.3%

Shares of DOCU stock opened at $86.53 on Friday. The stock has a 50-day simple moving average of $81.77 and a 200 day simple moving average of $85.59. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market capitalization of $17.52 billion, a P/E ratio of 17.84, a P/E/G ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced 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. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. During the same quarter last year, the business posted $0.76 earnings per share. The company'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 earnings per share for the current year.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the company's 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 completion of the sale, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares of the company's stock, valued at approximately $6,392,485.98. This represents a 16.97% 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 $3,912,239 over the last three months. 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.

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