Van ECK Associates Corp Buys Shares of 31,479 DocuSign, Inc. (NASDAQ:DOCU)

Van ECK Associates Corp purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,479 shares of the company’s stock, valued at approximately $1,871,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. bought a new position in DocuSign in the fourth quarter valued at about $208,000. Gilbert & Cook Inc. boosted its stake in shares of DocuSign by 7.7% in the 4th quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock valued at $505,000 after purchasing an additional 604 shares in the last quarter. PGGM Investments grew its holdings in shares of DocuSign by 27.3% during the 4th quarter. PGGM Investments now owns 4,659 shares of the company’s stock valued at $277,000 after purchasing an additional 1,000 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC bought a new stake in shares of DocuSign during the fourth quarter worth $396,000. Finally, Motley Fool Asset Management LLC acquired a new position in shares of DocuSign during the fourth quarter worth $222,000. 77.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Stephen Shute sold 15,109 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the transaction, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now directly owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the transaction, the insider now owns 8,959 shares in the company, valued at approximately $510,842.18. The disclosure for this sale can be found here. Insiders sold 55,277 shares of company stock worth $3,159,756 in the last quarter. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Down 1.4 %

DOCU opened at $57.51 on Thursday. The stock has a market cap of $11.81 billion, a PE ratio of 159.75, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The company has a fifty day moving average of $57.61 and a 200-day moving average of $53.66.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. Sell-side analysts anticipate that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, April 12th. Wells Fargo & Company reduced their price target on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 price objective on shares of DocuSign in a report on Friday, April 12th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $48.00 to $62.00 in a report on Friday, April 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.25.

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.