Renaissance Technologies LLC Increases Stock Holdings in Docusign Inc. $DOCU

Renaissance Technologies LLC increased its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 4.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,170,061 shares of the company’s stock after purchasing an additional 123,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Docusign were worth $150,293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DOCU. Step Capital Management Pte. Ltd. purchased a new stake in Docusign in the 4th quarter worth about $2,052,000. Retirement Systems of Alabama grew its stake in shares of Docusign by 4.9% during the fourth quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock valued at $37,242,000 after buying an additional 25,367 shares during the last quarter. Capital World Investors raised its holdings in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares during the period. CWM LLC increased its stake in Docusign by 151.8% in the fourth quarter. CWM LLC now owns 47,290 shares of the company’s stock worth $3,235,000 after purchasing an additional 28,511 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Docusign by 1,894.4% during the fourth quarter. SG Americas Securities LLC now owns 238,010 shares of the company’s stock valued at $16,280,000 after purchasing an additional 226,076 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Transactions at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $546,480.00. Following the transaction, the insider directly owned 52,815 shares in the company, valued at $2,405,195.10. The trade was a 18.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total value of $1,208,025.00. Following the transaction, the chief executive officer directly owned 159,038 shares in the company, valued at $7,318,928.76. This represents a 14.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is currently owned by corporate insiders.

Docusign Stock Performance

DOCU stock opened at $50.44 on Friday. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.39 and a beta of 0.90. The firm has a 50-day simple moving average of $47.83 and a two-hundred day simple moving average of $48.89. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

DOCU has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. BTIG Research decreased their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Wells Fargo & Company lowered their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Jefferies Financial Group increased their price objective on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Finally, UBS Group set a $60.00 target price on Docusign in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Docusign presently has a consensus rating of “Hold” and an average price target of $60.27.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.