Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 303,700 DocuSign, Inc. (NASDAQ:DOCU)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 303,700 shares of the company’s stock, valued at approximately $16,248,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DOCU. Massmutual Trust Co. FSB ADV lifted its stake in DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares during the period. Mather Group LLC. lifted its position in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares during the period. Register Financial Advisors LLC purchased a new position in DocuSign during the first quarter valued at $37,000. nVerses Capital LLC purchased a new position in DocuSign during the second quarter valued at $48,000. Finally, Quarry LP purchased a new position in DocuSign during the second quarter valued at $53,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Performance

NASDAQ DOCU opened at $62.98 on Friday. The company has a market capitalization of $12.89 billion, a P/E ratio of 121.12, a P/E/G ratio of 6.37 and a beta of 0.92. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76. The stock has a 50 day moving average price of $56.84 and a 200-day moving average price of $56.50.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping 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 business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the firm posted $0.09 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DOCU. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Morgan Stanley reduced their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Piper Sandler dropped their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $63.40.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,648 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total transaction of $477,770.56. Following the transaction, the chief executive officer now owns 115,589 shares of the company’s stock, valued at approximately $7,220,844.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other DocuSign news, CEO Allan C. Thygesen sold 7,648 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares of the company’s stock, valued at $7,220,844.83. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The disclosure for this sale can be found here. Insiders have sold a total of 445,802 shares of company stock worth $23,829,559 over the last quarter. Company insiders own 1.66% of the company’s stock.

DocuSign Company 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.