40,655 Shares in DocuSign, Inc. (NASDAQ:DOCU) Acquired by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 40,655 shares of the company’s stock, valued at approximately $3,657,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optimize Financial Inc acquired a new position in DocuSign in the 4th quarter valued at $300,000. Sterling Capital Management LLC grew its position in shares of DocuSign by 827.9% in the fourth quarter. Sterling Capital Management LLC now owns 34,444 shares of the company’s stock valued at $3,098,000 after purchasing an additional 30,732 shares during the last quarter. Covestor Ltd grew its position in shares of DocuSign by 13.1% in the fourth quarter. Covestor Ltd now owns 3,739 shares of the company’s stock valued at $337,000 after purchasing an additional 433 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of DocuSign by 39.1% in the fourth quarter. Treasurer of the State of North Carolina now owns 123,460 shares of the company’s stock worth $11,104,000 after purchasing an additional 34,680 shares during the period. Finally, LSV Asset Management boosted its stake in DocuSign by 40.7% during the 4th quarter. LSV Asset Management now owns 376,700 shares of the company’s stock valued at $33,880,000 after purchasing an additional 109,000 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on DOCU shares. Wells Fargo & Company lifted their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. JMP Securities restated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Finally, William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.85.

Insider Buying and Selling at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,851 shares of company stock valued at $3,998,719. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Up 1.5 %

Shares of DOCU opened at $74.35 on Monday. The company has a 50-day moving average price of $82.95 and a two-hundred day moving average price of $82.90. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its 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 business had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. Equities research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

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.