Quarry LP Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Quarry LP acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 989 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Mather Group LLC. lifted its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares during the last quarter. Register Financial Advisors LLC bought a new stake in DocuSign during the first quarter worth approximately $37,000. nVerses Capital LLC purchased a new stake in DocuSign during the second quarter valued at approximately $48,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of DocuSign in the 4th quarter valued at approximately $59,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephen Shute sold 35,300 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total transaction of $1,866,311.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 7,202 shares in the company, valued at approximately $407,345.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Shute sold 35,300 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total transaction of $1,866,311.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 445,802 shares of company stock worth $23,829,559. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Up 1.4 %

Shares of NASDAQ:DOCU opened at $63.84 on Friday. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 122.77, a price-to-earnings-growth ratio of 6.37 and a beta of 0.92. The company has a 50 day moving average of $57.00 and a two-hundred day moving average of $56.54.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS 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 company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter last year, the business posted $0.09 EPS. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DOCU shares. Piper Sandler cut their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Wells Fargo & Company boosted their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Morgan Stanley dropped their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, DocuSign has an average rating of “Hold” and an average price target of $63.40.

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.