Vestcor Inc Acquires 9,959 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Vestcor Inc boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 215.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,578 shares of the company’s stock after acquiring an additional 9,959 shares during the period. Vestcor Inc’s holdings in DocuSign were worth $1,311,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Toronto Dominion Bank lifted its position in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after acquiring an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after purchasing an additional 16,014 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares during the last quarter. Rhumbline Advisers increased its holdings in DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV raised its position in DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after buying an additional 378,233 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a research note on Friday. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday. Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus target price of $95.58.

Insider Activity

In related news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.77, for a total value of $758,160.00. Following the completion of the transaction, the chief financial officer now owns 101,439 shares of the company’s stock, valued at $9,613,374.03. The trade was a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock worth $9,665,394 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Up 14.8 %

DocuSign stock opened at $85.76 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. The firm has a 50 day moving average of $87.97 and a 200 day moving average of $79.37.

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