Harel Insurance Investments & Financial Services Ltd. Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Harel Insurance Investments & Financial Services Ltd. grew its stake in DocuSign, Inc. (NASDAQ:DOCU) by 9,284.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,039 shares of the company’s stock after purchasing an additional 38,623 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in DocuSign were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in DOCU. Vanguard Group Inc. boosted its holdings in DocuSign by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock valued at $881,260,000 after purchasing an additional 482,472 shares during the last quarter. Capital World Investors lifted its holdings in DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after acquiring an additional 3,193,727 shares during the last quarter. Morgan Stanley grew its position in DocuSign by 1.7% in the third quarter. Morgan Stanley now owns 3,219,450 shares of the company’s stock worth $135,217,000 after acquiring an additional 53,553 shares during the period. Clearbridge Investments LLC increased its stake in DocuSign by 1.9% during the first quarter. Clearbridge Investments LLC now owns 3,186,783 shares of the company’s stock worth $341,368,000 after acquiring an additional 58,555 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in DocuSign by 0.3% in the first quarter. Renaissance Technologies LLC now owns 2,872,900 shares of the company’s stock valued at $167,490,000 after purchasing an additional 8,300 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the sale, the director now directly owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other DocuSign news, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the sale, the insider now owns 8,959 shares of the company’s stock, valued at $510,842.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the sale, the director now owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,871 shares of company stock worth $3,176,199. 17.80% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

DOCU opened at $58.90 on Monday. The business has a fifty day moving average price of $55.37 and a 200 day moving average price of $51.73. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of 163.62, a PEG ratio of 5.15 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. On average, research analysts anticipate that DocuSign, Inc. will post 0.86 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday. Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Wells Fargo & Company dropped their target price on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, February 5th. Finally, TheStreet upgraded DocuSign from a “d+” rating to a “c-” rating in a research note on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.25.

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.