Tower Research Capital LLC TRC Purchases 10,949 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Tower Research Capital LLC TRC grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 3,841.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,234 shares of the company's stock after buying an additional 10,949 shares during the quarter. Tower Research Capital LLC TRC's holdings in DocuSign were worth $1,010,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DOCU. World Investment Advisors LLC bought a new position in shares of DocuSign in the 3rd quarter valued at about $2,314,000. Wilmington Savings Fund Society FSB bought a new position in shares of DocuSign in the third quarter valued at about $51,000. Optimist Retirement Group LLC grew its holdings in DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company's stock valued at $274,000 after buying an additional 161 shares in the last quarter. Tidal Investments LLC increased its position in DocuSign by 62.8% during the 3rd quarter. Tidal Investments LLC now owns 44,946 shares of the company's stock worth $2,791,000 after buying an additional 17,339 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of DocuSign by 12.1% during the third quarter. Franklin Resources Inc. now owns 520,925 shares of the company's stock worth $35,870,000 after buying an additional 56,221 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

DOCU traded down $1.42 on Wednesday, reaching $80.85. The company had a trading volume of 252,286 shares, compared to its average volume of 2,732,431. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market cap of $16.37 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 6.94 and a beta of 1.20. The business has a 50 day simple moving average of $80.17 and a 200 day simple moving average of $83.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $760.94 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares of the company's stock, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock valued at $4,607,439 over the last quarter. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOCU. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research note on Friday, March 14th. William Blair reaffirmed an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. Morgan Stanley cut their price target on DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their price objective on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, UBS Group cut their target price on DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $92.46.

DocuSign 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.