Metis Global Partners LLC Buys New Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Metis Global Partners LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,609 shares of the company’s stock, valued at approximately $224,000.

Other large investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. raised its position in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the period. Reston Wealth Management LLC acquired a new position in shares of DocuSign during the third quarter worth about $47,000. nVerses Capital LLC purchased a new stake in shares of DocuSign in the second quarter worth about $48,000. Finally, Quarry LP acquired a new stake in shares of DocuSign in the second quarter valued at about $53,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. JMP Securities reissued a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign has an average rating of “Hold” and a consensus target price of $63.40.

DocuSign Stock Up 1.5 %

Shares of NASDAQ DOCU opened at $79.52 on Wednesday. The stock’s 50 day moving average price is $67.50 and its two-hundred day moving average price is $59.66. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68. The stock has a market capitalization of $16.14 billion, a P/E ratio of 16.53, a PEG ratio of 8.37 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 in the last quarter. 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.