Summit Investment Advisors Inc. Takes $3.66 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Summit Investment Advisors Inc. acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,655 shares of the company's stock, valued at approximately $3,657,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCU. Kestra Investment Management LLC purchased a new stake in shares of DocuSign in the fourth quarter worth $30,000. First Horizon Advisors Inc. grew its position in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. Modus Advisors LLC bought a new stake in DocuSign during the 4th quarter valued at about $36,000. Bessemer Group Inc. raised its holdings in DocuSign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after buying an additional 392 shares during the last quarter. Finally, Avion Wealth lifted its stake in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after buying an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

DocuSign Stock Down 1.3 %

DocuSign stock traded down $0.97 during midday trading on Friday, reaching $75.42. The stock had a trading volume of 1,308,166 shares, compared to its average volume of 2,737,666. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a fifty day moving average of $81.35 and a 200 day moving average of $83.10. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the business posted $0.76 EPS. DocuSign's quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In related news, insider Robert Chatwani sold 15,706 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares of the company's stock, valued at $6,392,485.98. This represents a 16.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the sale, the chief financial officer now owns 86,156 shares in the company, valued at $6,555,610.04. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock worth $4,607,439 over the last 90 days. Company insiders own 1.66% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DOCU. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price target on shares of DocuSign in a report on Thursday. Robert W. Baird set a $93.00 target price on shares of DocuSign in a report on Friday, March 14th. Finally, UBS Group decreased their target price on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $93.08.

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.