APG Asset Management US Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

APG Asset Management US Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,389 shares of the company’s stock, valued at approximately $575,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC acquired a new stake in DocuSign during the fourth quarter worth $30,000. Modus Advisors LLC acquired a new stake in DocuSign during the fourth quarter worth $36,000. First Horizon Advisors Inc. increased its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Avion Wealth boosted its position in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after buying an additional 368 shares during the period. Finally, Avior Wealth Management LLC boosted its position in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DOCU shares. Citigroup raised their price target on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Bank of America lowered their price target on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. UBS Group lowered their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Finally, Jefferies Financial Group decreased their target price on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.83.

Insider Transactions at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the sale, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,851 shares of company stock worth $4,911,319. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $78.59 on Thursday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market cap of $15.91 billion, a PE ratio of 16.20, a P/E/G ratio of 6.94 and a beta of 1.20. The stock’s fifty day moving average is $83.86 and its two-hundred day moving average is $82.56.

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