ING Groep NV Makes New $1.10 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

ING Groep NV acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,701 shares of the company’s stock, valued at approximately $1,099,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Inspire Investing LLC purchased a new position in shares of DocuSign in the 3rd quarter worth $911,000. Comerica Bank boosted its stake in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the period. International Assets Investment Management LLC boosted its stake in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of DocuSign by 7.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares during the period. Finally, Carrera Capital Advisors purchased a new position in shares of DocuSign during the 3rd quarter worth about $666,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DOCU shares. Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Bank of America lifted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two equities research 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. According to MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus target price of $63.40.

DocuSign Stock Performance

NASDAQ:DOCU opened at $79.11 on Monday. DocuSign, Inc. has a one year low of $42.12 and a one year high of $83.68. The firm has a market cap of $16.06 billion, a P/E ratio of 16.69, a P/E/G ratio of 8.37 and a beta of 0.90. The firm has a 50-day simple moving average of $67.05 and a 200-day simple moving average of $59.50.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. DocuSign’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. On average, research analysts predict that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock worth $4,272,768 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

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.