Foundry Partners LLC Buys Shares of 8,899 DocuSign, Inc. (NASDAQ:DOCU)

Foundry Partners LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,899 shares of the company’s stock, valued at approximately $553,000.

Several other hedge funds have also recently modified their holdings of DOCU. Inspire Investing LLC purchased a new position in DocuSign during the 3rd quarter worth $911,000. Comerica Bank increased its stake in shares of 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 period. International Assets Investment Management LLC raised its holdings in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after purchasing an additional 85,987 shares during the period. Finally, Carrera Capital Advisors purchased a new stake in DocuSign in the 3rd quarter valued at approximately $666,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. This represents a 6.72 % decrease in their position. 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 90 days. 1.66% of the stock is currently owned by insiders.

DocuSign Stock Performance

DOCU stock opened at $83.03 on Friday. The stock’s 50 day moving average price is $69.47 and its 200 day moving average price is $60.23. The firm has a market cap of $16.85 billion, a P/E ratio of 17.52, a PEG ratio of 8.41 and a beta of 0.90. DocuSign, Inc. has a 1 year low of $42.13 and a 1 year high of $83.68.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. DocuSign’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. On average, research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent analyst reports. Royal Bank of Canada raised their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price objective 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. Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Two 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.com, DocuSign has a consensus rating of “Hold” and an average target price of $65.80.

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.