United Services Automobile Association Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

United Services Automobile Association purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,264 shares of the company’s stock, valued at approximately $1,193,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after acquiring an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares in the last quarter. Quantinno Capital Management LP increased its holdings in DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares during the last quarter. Rhumbline Advisers raised its stake in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV raised its stake in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after buying an additional 378,233 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 3.5 %

Shares of NASDAQ DOCU opened at $88.06 on Monday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The company has a market cap of $17.79 billion, a PE ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. The stock has a 50 day simple moving average of $87.54 and a 200-day simple moving average of $80.47.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million during 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 firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Sell-side analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DOCU. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Morgan Stanley boosted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and an average target price of $95.00.

Insider Activity at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This represents a 16.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock worth $8,579,369 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

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.