Panagora Asset Management Inc. Acquires 178,950 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Panagora Asset Management Inc. increased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 303.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 237,879 shares of the company’s stock after purchasing an additional 178,950 shares during the quarter. Panagora Asset Management Inc.’s holdings in DocuSign were worth $14,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Capital Analysts LLC raised its position in DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of DocuSign in the fourth quarter worth approximately $32,000. Performa Ltd US LLC raised its holdings in shares of DocuSign by 50.0% during the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after purchasing an additional 275 shares during the last quarter. Whittier Trust Co. lifted its position in DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its holdings in DocuSign by 60.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock worth $57,000 after purchasing an additional 364 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DocuSign

In related news, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the sale, the insider now owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Stephen Shute sold 15,109 shares of the company’s 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 completion of the transaction, the insider now owns 8,959 shares in the company, valued at $510,842.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the sale, the director now owns 783 shares in the company, valued at $46,980. The disclosure for this sale can be found here. Insiders sold a total of 55,277 shares of company stock valued at $3,159,756 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

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

DocuSign Price Performance

DOCU opened at $60.22 on Friday. The company has a 50 day simple moving average of $58.43 and a two-hundred day simple moving average of $54.65. The firm has a market cap of $12.37 billion, a P/E ratio of 167.27, a PEG ratio of 5.20 and a beta of 0.88. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76.

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

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.