Renaissance Technologies LLC Acquires 123,100 Shares of Docusign Inc. $DOCU

Renaissance Technologies LLC boosted its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,170,061 shares of the company’s stock after buying an additional 123,100 shares during the quarter. Renaissance Technologies LLC owned approximately 1.63% of Docusign worth $150,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Modus Advisors LLC bought a new stake in shares of Docusign during the 4th quarter valued at $27,000. Torren Management LLC bought a new position in Docusign in the 4th quarter worth $28,000. Cary Street Partners Investment Advisory LLC lifted its position in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after purchasing an additional 424 shares in the last quarter. Basepoint Wealth LLC bought a new stake in Docusign during the fourth quarter valued at about $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Docusign in the fourth quarter worth about $44,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Citigroup increased their target price on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Friday, June 5th. Finally, BTIG Research dropped their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Docusign has an average rating of “Hold” and an average price target of $60.27.

Insider Buying and Selling at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $273,240.00. Following the completion of the transaction, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This represents a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the transaction, the insider directly owned 72,805 shares of the company’s stock, valued at approximately $3,131,343.05. This trade represents a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 76,695 shares of company stock worth $3,476,002. Company insiders own 0.59% of the company’s stock.

Docusign Trading Up 7.2%

Shares of DOCU stock opened at $50.44 on Friday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock’s 50-day moving average price is $47.83 and its 200-day moving average price is $48.89. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, research analysts predict that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.