DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 14.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 610,728 shares of the company’s stock after buying an additional 75,133 shares during the period. Dimensional Fund Advisors LP’s holdings in DocuSign were worth $32,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DOCU. Massachusetts Financial Services Co. MA acquired a new stake in shares of DocuSign during the second quarter valued at $1,709,000. Greenwich Wealth Management LLC boosted its stake in shares of DocuSign by 0.4% during the 2nd quarter. Greenwich Wealth Management LLC now owns 93,608 shares of the company’s stock worth $5,008,000 after purchasing an additional 373 shares during the last quarter. Rathbones Group PLC boosted its stake in shares of DocuSign by 0.9% during the 2nd quarter. Rathbones Group PLC now owns 42,522 shares of the company’s stock worth $2,275,000 after purchasing an additional 373 shares during the last quarter. Plato Investment Management Ltd grew its holdings in shares of DocuSign by 8.8% during the second quarter. Plato Investment Management Ltd now owns 23,788 shares of the company’s stock worth $1,273,000 after buying an additional 1,930 shares in the last quarter. Finally, Lyell Wealth Management LP raised its position in shares of DocuSign by 11.1% in the second quarter. Lyell Wealth Management LP now owns 20,762 shares of the company’s stock valued at $1,111,000 after buying an additional 2,081 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

DOCU has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Morgan Stanley dropped their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.40.

Insider Activity

In related news, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the sale, the director now directly owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel D. Springer sold 287,052 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the sale, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. The disclosure for this sale can be found here. Insiders have sold 438,154 shares of company stock worth $23,351,788 over the last 90 days. Company insiders own 1.66% of the company’s stock.

DocuSign Trading Down 1.1 %

NASDAQ:DOCU opened at $61.42 on Wednesday. The firm’s fifty day simple moving average is $56.52 and its 200 day simple moving average is $56.41. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 118.12, a PEG ratio of 6.37 and a beta of 0.93.

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