Sienna Gestion Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Sienna Gestion purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, Holdings Channel reports. The firm purchased 69,434 shares of the company’s stock, valued at approximately $6,244,000.

Several other large investors also recently bought and sold shares of the business. US Bancorp DE increased its holdings in shares of DocuSign by 12.6% in the third quarter. US Bancorp DE now owns 3,561 shares of the company’s stock valued at $221,000 after purchasing an additional 398 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of DocuSign by 0.8% in the third quarter. Janney Montgomery Scott LLC now owns 28,946 shares of the company’s stock valued at $1,797,000 after purchasing an additional 227 shares during the period. Apollon Wealth Management LLC acquired a new stake in DocuSign during the third quarter worth about $203,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in DocuSign during the third quarter worth about $327,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of DocuSign by 10.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock worth $29,500,000 after buying an additional 44,615 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the subject of several analyst reports. Piper Sandler increased their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup reaffirmed a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. Wells Fargo & Company upped their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $92.91.

DocuSign Stock Performance

Shares of DOCU opened at $74.70 on Friday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a market capitalization of $15.09 billion, a PE ratio of 15.40, a PEG ratio of 6.94 and a beta of 1.02. The stock has a 50-day simple moving average of $88.06 and a 200-day simple moving average of $79.04.

DocuSign (NASDAQ:DOCU) last issued 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the sale, the chief financial officer now directly owns 85,851 shares of the company’s stock, valued at $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock valued at $9,665,394 over the last quarter. 1.66% of the stock is owned by insiders.

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.