HighPoint Advisor Group LLC raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,730 shares of the company’s stock after acquiring an additional 1,366 shares during the period. HighPoint Advisor Group LLC’s holdings in DocuSign were worth $3,137,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in DOCU. Norges Bank acquired a new stake in shares of DocuSign during the fourth quarter valued at about $367,316,000. Tiger Global Management LLC increased its position in shares of DocuSign by 491.0% during the fourth quarter. Tiger Global Management LLC now owns 1,773,000 shares of the company’s stock valued at $394,138,000 after acquiring an additional 1,473,000 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in shares of DocuSign during the fourth quarter valued at about $271,499,000. Nikko Asset Management Americas Inc. increased its position in shares of DocuSign by 93.2% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,447,976 shares of the company’s stock valued at $321,885,000 after acquiring an additional 698,316 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of DocuSign by 45.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,187,468 shares of the company’s stock valued at $486,274,000 after purchasing an additional 680,641 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.
In other news, CRO Loren Alhadeff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $258.85, for a total transaction of $1,294,250.00. Following the completion of the sale, the executive now owns 89,696 shares in the company, valued at approximately $23,217,809.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott V. Olrich sold 5,800 shares of the company’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $256.69, for a total transaction of $1,488,802.00. Following the completion of the sale, the chief operating officer now owns 208,346 shares of the company’s stock, valued at approximately $53,480,334.74. The disclosure for this sale can be found here. Insiders have sold a total of 393,031 shares of company stock valued at $90,008,534 in the last 90 days. Insiders own 5.06% of the company’s stock.
A number of research analysts recently weighed in on DOCU shares. Citigroup started coverage on shares of DocuSign in a report on Wednesday, March 3rd. They issued a “buy” rating and a $282.00 price objective for the company. Piper Sandler upgraded shares of DocuSign from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $225.00 to $300.00 in a report on Monday, January 4th. Zacks Investment Research cut shares of DocuSign from a “buy” rating to a “hold” rating in a report on Thursday. Evercore ISI upgraded shares of DocuSign from an “in-line” rating to an “outperform” rating and set a $285.00 price objective for the company in a report on Thursday, March 18th. Finally, Morgan Stanley lifted their price objective on shares of DocuSign from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. DocuSign currently has an average rating of “Buy” and a consensus price target of $272.55.
Shares of NASDAQ:DOCU traded up $0.94 during trading on Monday, hitting $213.91. 50,013 shares of the company were exchanged, compared to its average volume of 3,203,565. The stock has a market capitalization of $41.30 billion, a P/E ratio of -180.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.01 and a quick ratio of 1.01. DocuSign, Inc. has a 12-month low of $90.04 and a 12-month high of $290.23. The firm’s 50 day moving average price is $216.32 and its 200-day moving average price is $227.36.
DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Wednesday, March 10th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.15. The business had revenue of $430.89 million during the quarter, compared to the consensus estimate of $407.95 million. DocuSign had a negative net margin of 16.83% and a negative return on equity of 30.14%. The company’s revenue was up 56.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 EPS. As a group, equities research analysts anticipate that DocuSign, Inc. will post -0.68 EPS for the current year.
DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.
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