Quadrature Capital Ltd Acquires New Position in DocuSign, Inc. (NASDAQ:DOCU)

Quadrature Capital Ltd bought a new position in DocuSign, Inc. (NASDAQ:DOCU) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 51,552 shares of the company’s stock, valued at approximately $3,070,000.

Other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board grew its position in DocuSign by 54.9% in the first quarter. Canada Pension Plan Investment Board now owns 864,100 shares of the company’s stock worth $51,457,000 after acquiring an additional 306,400 shares during the period. Axxcess Wealth Management LLC acquired a new position in DocuSign in the first quarter valued at about $399,000. Carlson Capital L P purchased a new position in DocuSign during the first quarter worth about $10,785,000. CreativeOne Wealth LLC acquired a new stake in shares of DocuSign during the first quarter valued at about $280,000. Finally, Delap Wealth Advisory LLC purchased a new stake in shares of DocuSign in the 1st quarter valued at approximately $619,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Wednesday, July 10th. Citigroup decreased their price target on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Royal Bank of Canada dropped their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Robert W. Baird cut their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Piper Sandler decreased their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $59.36.

DocuSign Stock Up 1.5 %

Shares of DocuSign stock traded up $0.80 on Friday, hitting $55.90. The company’s stock had a trading volume of 1,008,983 shares, compared to its average volume of 1,813,071. The company has a market capitalization of $11.44 billion, a P/E ratio of 107.50, a price-to-earnings-growth ratio of 8.70 and a beta of 0.94. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The firm has a fifty day moving average price of $54.36 and a 200-day moving average price of $56.26.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The company had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. As a group, analysts expect that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In related news, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the sale, the insider now directly owns 35,703 shares in the company, valued at approximately $1,820,138.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider James P. Shaughnessy sold 1,800 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares in the company, valued at $1,820,138.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 49,123 shares of DocuSign stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $51.15, for a total transaction of $2,512,641.45. Following the sale, the chief financial officer now directly owns 70,473 shares in the company, valued at approximately $3,604,693.95. The disclosure for this sale can be found here. Insiders have sold 117,518 shares of company stock valued at $6,149,670 over the last three months. 1.66% of the stock is owned by company insiders.

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.