ING Groep NV Invests $1.10 Million in DocuSign, Inc. (NASDAQ:DOCU)

ING Groep NV purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,701 shares of the company's stock, valued at approximately $1,099,000.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in DocuSign by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company's stock valued at $219,318,000 after acquiring an additional 75,026 shares during the period. Renaissance Technologies LLC raised its position in shares of DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock worth $199,518,000 after buying an additional 576,414 shares in the last quarter. Pacer Advisors Inc. raised 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 worth $188,318,000 after buying an additional 1,541,816 shares in the last quarter. 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 buying an additional 2,597,489 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of DocuSign by 4.1% in the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company's stock worth $156,265,000 after buying an additional 115,616 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on DocuSign from $55.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Citigroup increased their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, September 6th. JMP Securities reiterated a "market outperform" rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Royal Bank of Canada increased their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a "sector perform" rating in a report on Friday, September 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $63.40.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares of the company's stock, valued at $6,038,584.37. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the director now directly owns 7,202 shares of the company's stock, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock valued at $4,272,768 over the last 90 days. Corporate insiders own 1.66% of the company's stock.

DocuSign Stock Down 0.8 %

Shares of DOCU stock traded down $0.65 during trading hours on Monday, hitting $78.46. 1,034,374 shares of the company's stock traded hands, compared to its average volume of 2,874,865. The stock's fifty day simple moving average is $67.05 and its two-hundred day simple moving average is $59.52. DocuSign, Inc. has a 12-month low of $42.12 and a 12-month high of $83.68. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 8.37 and a beta of 0.90.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The firm 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 was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.09 earnings per share. On average, equities analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

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.