Quantinno Capital Management LP Purchases 35,283 Shares of DocuSign, Inc. (NASDAQ:DOCU)
Quantinno Capital Management LP increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 17.5% in Q4, acquiring 35,283 shares, bringing its total to 236,829 shares valued at $21.3 million. Other institutional investors also adjusted their holdings, with 77.64% of the stock owned by such entities. DocuSign's stock rose 2.8% to $90.34, with a market cap of $18.29 billion. The company reported Q4 earnings of $0.86 per share, exceeding estimates, and a 9% year-over-year revenue increase. Insider trading activity included sales by CFO Blake Jeffrey Grayson and insider Robert Chatwani.
Quantinno Capital Management LP grew its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 236,829 shares of the company's stock after acquiring an additional 35,283 shares during the quarter. Quantinno Capital Management LP owned 0.12% of DocuSign worth $21,300,000 as of its most recent SEC filing.
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Several other institutional investors also recently modified their holdings of DOCU. Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in DocuSign in the 4th quarter valued at $6,476,000. Pathstone Holdings LLC grew its position in DocuSign by 2.7% in the fourth quarter. Pathstone Holdings LLC now owns 141,057 shares of the company's stock valued at $12,687,000 after acquiring an additional 3,714 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of DocuSign by 111.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 76,515 shares of the company's stock valued at $7,116,000 after purchasing an additional 40,263 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of DocuSign during the 4th quarter worth about $2,422,000. Finally, No Street GP LP acquired a new position in DocuSign in the fourth quarter valued at about $26,083,000. Institutional investors and hedge funds own 77.64% of the company's stock.
DocuSign Stock Up 2.8%
NASDAQ:DOCU opened at $90.34 on Wednesday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The stock's fifty day simple moving average is $80.47 and its 200-day simple moving average is $84.75. The firm has a market capitalization of $18.29 billion, a P/E ratio of 18.63, a P/E/G ratio of 6.94 and a beta of 1.21.
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DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share 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 analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. As a group, equities research analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.
Insider Activity at DocuSign
In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares of the company's stock, valued at $6,765,251.90. The trade was a 9.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock worth $4,607,439 in the last ninety days. Company insiders own 1.66% of the company's stock.
Analyst Ratings Changes
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A number of equities research analysts recently commented on DOCU shares. JMP Securities restated a "market outperform" rating and set a $124.00 price target on shares of DocuSign in a research report on Thursday, April 17th. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price target for the company in a report on Friday, April 11th. Wells Fargo & Company decreased their price objective on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley dropped their target price on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $92.46.
Get Our Latest Research Report on DOCU
About DocuSign
(Free Report)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.
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