DocuSign, Inc. (NASDAQ:DOCU) Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,363,292 shares of the company’s stock after acquiring an additional 205,304 shares during the period. DocuSign accounts for 0.6% of Renaissance Technologies LLC’s portfolio, making the stock its 18th biggest holding. Renaissance Technologies LLC owned about 2.16% of DocuSign worth $392,434,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. FMR LLC boosted its position in shares of DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares during the period. State Street Corp lifted its holdings in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares during the period. American Century Companies Inc. raised its position in shares of DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after buying an additional 831,611 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of DocuSign by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock valued at $335,147,000 after acquiring an additional 249,179 shares during the period. Finally, Invesco Ltd. boosted its stake in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after purchasing an additional 2,549,310 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 31st. UBS Group cut their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.83.

Insider Activity

In related news, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the sale, the insider now directly owns 45,875 shares of the company’s stock, valued at approximately $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,851 shares of company stock valued at $4,911,319. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $71.95 on Tuesday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company has a market capitalization of $14.57 billion, a PE ratio of 14.84, a P/E/G ratio of 6.94 and a beta of 1.20. The company’s fifty day moving average is $85.61 and its 200-day moving average is $82.45.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. On average, analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

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.