Frank Rimerman Advisors LLC Makes New $285,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Frank Rimerman Advisors LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,174 shares of the company’s stock, valued at approximately $285,000.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its stake in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares during the last quarter. FMR LLC raised its stake in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after acquiring an additional 315,073 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after acquiring an additional 637,505 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of DocuSign by 14.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock valued at $103,030,000 after acquiring an additional 208,813 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the sale, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This represents a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,422 shares of company stock worth $8,903,395. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Performance

Shares of DOCU opened at $83.43 on Tuesday. The stock has a market cap of $16.85 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm’s 50-day simple moving average is $87.82 and its two-hundred day simple moving average is $79.69.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. Equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DOCU. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Robert W. Baird upped their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wedbush reaffirmed a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research note on Friday. Morgan Stanley upped their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, UBS Group reduced their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $95.58.

DocuSign 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.