Van ECK Associates Corp Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Van ECK Associates Corp acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 31,479 shares of the company’s stock, valued at approximately $1,871,000.

Several other hedge funds have also modified their holdings of the stock. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in DocuSign in the fourth quarter valued at about $208,000. Gilbert & Cook Inc. grew its stake in shares of DocuSign by 7.7% during the fourth quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock valued at $505,000 after acquiring an additional 604 shares in the last quarter. PGGM Investments increased its position in shares of DocuSign by 27.3% during the fourth quarter. PGGM Investments now owns 4,659 shares of the company’s stock worth $277,000 after acquiring an additional 1,000 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC acquired a new position in shares of DocuSign in the fourth quarter worth about $396,000. Finally, Motley Fool Asset Management LLC purchased a new position in DocuSign in the fourth quarter valued at about $222,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DOCU shares. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Friday, April 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price target on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. Finally, UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $62.00 in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.25.

DocuSign Stock Performance

Shares of DOCU opened at $57.51 on Thursday. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 159.75, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88. The stock’s fifty day moving average is $57.61 and its 200-day moving average is $53.66. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The business had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. Analysts forecast that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Allan C. Thygesen sold 7,765 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.31, for a total transaction of $413,952.15. Following the completion of the sale, the chief executive officer now directly owns 104,002 shares of the company’s stock, valued at approximately $5,544,346.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares in the company, valued at $326,895.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,277 shares of company stock worth $3,159,756. 1.66% of the stock is owned by company insiders.

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.