Meeder Asset Management Inc. Acquires Shares of 17,265 DocuSign, Inc. (NASDAQ:DOCU)

Meeder Asset Management Inc. acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,265 shares of the company's stock, valued at approximately $1,072,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Jericho Capital Asset Management L.P. raised its position in shares of DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company's stock worth $203,536,000 after acquiring an additional 2,597,489 shares during the period. Thrivent Financial for Lutherans acquired a new stake in DocuSign in the second quarter valued at approximately $115,795,000. Pacer Advisors Inc. increased its position in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after buying an additional 1,541,816 shares in the last quarter. KBC Group NV raised its stake in shares of DocuSign by 209.8% during the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company's stock worth $71,830,000 after buying an additional 783,419 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock valued at $199,518,000 after buying an additional 576,414 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

DocuSign Price Performance

Shares of DOCU stock traded down $0.71 during trading hours on Wednesday, hitting $78.81. The company had a trading volume of 1,232,171 shares, compared to its average volume of 2,865,284. The stock has a market capitalization of $16.00 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 8.37 and a beta of 0.90. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68. The company's fifty day moving average is $68.00 and its 200 day moving average is $59.80.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 net margin of 34.56% and a return on equity of 16.18%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Equities analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,725 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,558 shares of company stock worth $4,272,768. Corporate insiders own 1.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of DocuSign from $55.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Bank of America boosted their price objective on DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Wells Fargo & Company raised their target price on DocuSign from $48.00 to $50.00 and gave the company an "underweight" rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Citigroup lifted their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Two equities 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.