Susquehanna Fundamental Investments LLC Takes $1.82 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Susquehanna Fundamental Investments LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 33,975 shares of the company’s stock, valued at approximately $1,818,000.

A number of other hedge funds also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its position in shares of DocuSign by 24.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,807 shares of the company’s stock valued at $464,000 after buying an additional 1,524 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in DocuSign during the fourth quarter valued at about $204,000. Campbell & CO Investment Adviser LLC boosted its position in DocuSign by 17.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,905 shares of the company’s stock worth $1,183,000 after purchasing an additional 2,983 shares during the period. Jones Financial Companies Lllp bought a new position in DocuSign during the fourth quarter worth about $59,000. Finally, Rafferty Asset Management LLC raised its position in shares of DocuSign by 7.4% in the fourth quarter. Rafferty Asset Management LLC now owns 49,897 shares of the company’s stock valued at $2,966,000 after purchasing an additional 3,431 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DOCU opened at $61.42 on Wednesday. The business’s 50 day simple moving average is $56.52 and its 200-day simple moving average is $56.41. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 118.12, a price-to-earnings-growth ratio of 6.37 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, sell-side analysts expect that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

DOCU has been the topic of several recent research reports. Bank of America increased their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Morgan Stanley reduced their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Robert W. Baird increased their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.40.

Insider Buying and Selling at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Stephen Shute sold 35,300 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total transaction of $1,866,311.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. The disclosure for this sale can be found here. Insiders have sold 438,154 shares of company stock worth $23,351,788 over the last quarter. Insiders own 1.66% of the company’s stock.

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.