Virtu Financial LLC Buys New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Virtu Financial LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,608 shares of the company’s stock, valued at approximately $1,494,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DOCU. Oxford Financial Group LTD. LLC purchased a new position in shares of DocuSign in the fourth quarter worth $1,639,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of DocuSign in the fourth quarter worth $4,032,000. Lingohr Asset Management GmbH purchased a new position in shares of DocuSign in the fourth quarter worth $538,000. Contrarius Group Holdings Ltd purchased a new position in shares of DocuSign in the fourth quarter worth $4,624,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of DocuSign by 173.6% in the fourth quarter. Teacher Retirement System of Texas now owns 648,209 shares of the company’s stock worth $58,300,000 after buying an additional 411,320 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

DOCU stock opened at $88.06 on Friday. The firm has a market cap of $17.79 billion, a PE ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. The firm’s fifty day moving average is $87.54 and its 200 day moving average is $80.31. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter last year, the business earned $0.76 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. This represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock worth $8,579,369 over the last 90 days. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of research analyst reports. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Wells Fargo & Company increased their price objective on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Finally, Bank of America cut their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.00.

About DocuSign

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.