Vident Advisory LLC Purchases 4,931 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Vident Advisory LLC grew its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,677 shares of the company's stock after purchasing an additional 4,931 shares during the period. Vident Advisory LLC's holdings in DocuSign were worth $2,759,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DOCU. FMR LLC raised its holdings in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. raised its holdings in DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after purchasing an additional 2,549,310 shares during the period. Norges Bank acquired a new stake in DocuSign in the fourth quarter worth $223,196,000. Arrowstreet Capital Limited Partnership raised its holdings in DocuSign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after purchasing an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its holdings in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction dated 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 completion of the transaction, the insider now owns 76,842 shares of the company's stock, valued at $6,392,485.98. This trade represents a 16.97% decrease in their position. 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 DocuSign stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company's stock, valued at approximately $722,880.70. This trade represents a 6.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.01% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DOCU shares. Jefferies Financial Group cut their target price on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Citigroup raised their price objective on shares of DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Hsbc Global Res upgraded shares of DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. UBS Group dropped their price objective on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, William Blair restated an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. One equities research 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $92.46.

DocuSign Stock Performance

DocuSign stock traded up $1.11 during mid-day trading on Tuesday, reaching $85.72. The company's stock had a trading volume of 386,881 shares, compared to its average volume of 2,759,872. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The business's 50 day simple moving average is $81.74 and its 200 day simple moving average is $85.85.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during 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 firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. As a group, sell-side analysts expect that DocuSign, Inc. will post 1.17 EPS 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.