Virtu Financial LLC Makes New $1.49 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

Virtu Financial LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, Holdings Channel reports. The fund bought 16,608 shares of the company’s stock, valued at approximately $1,494,000.

A number of other institutional investors also recently bought and sold shares of DOCU. Amundi raised its stake in shares of DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock valued at $123,486,000 after acquiring an additional 1,172,368 shares during the period. Bank of New York Mellon Corp raised its stake in shares of DocuSign by 61.5% in the 4th 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 period. Fiera Capital Corp purchased a new stake in shares of DocuSign in the 4th quarter valued at approximately $47,920,000. Principal Financial Group Inc. raised its stake in shares of DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after acquiring an additional 529,308 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after acquiring an additional 434,312 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOCU has been the topic of a number of research analyst reports. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Morgan Stanley lifted their price objective 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. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a report on Friday, March 14th. Piper Sandler lifted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, HSBC restated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,851 shares of company stock valued at $8,579,369. Insiders own 1.66% of the company’s stock.

DocuSign Price Performance

NASDAQ DOCU opened at $88.06 on Friday. The firm’s fifty day moving average price is $87.54 and its 200 day moving average price is $80.31. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating 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 firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the firm posted $0.76 EPS. The company’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current 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.