Point72 DIFC Ltd Makes New $756,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Point72 DIFC Ltd purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,137 shares of the company’s stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank increased its stake in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares during the last quarter. Vanguard Group Inc. raised its holdings in DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after buying an additional 417,352 shares during the period. KBC Group NV lifted its position in DocuSign by 119.3% in the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock valued at $43,945,000 after buying an additional 402,084 shares during the last quarter. Retirement Systems of Alabama purchased a new position in DocuSign during the first quarter worth about $8,700,000. Finally, PGGM Investments increased its position in shares of DocuSign by 36.7% during the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after acquiring an additional 13,379 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JMP Securities restated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Morgan Stanley dropped their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Finally, Piper Sandler cut their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $61.45.

DocuSign Stock Up 3.2 %

NASDAQ DOCU opened at $60.55 on Thursday. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The firm has a 50-day moving average price of $56.03 and a 200 day moving average price of $56.31. The stock has a market capitalization of $12.29 billion, a P/E ratio of 116.44, a P/E/G ratio of 6.37 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the sale, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares in the company, valued at $44,426,030.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the sale, the chief executive officer now owns 117,643 shares in the company, valued at $6,325,664.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 446,065 shares of company stock worth $23,777,163. 1.66% of the stock is owned by company insiders.

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.