Syon Capital LLC Purchases 450,221 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Syon Capital LLC boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 450.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 550,221 shares of the company’s stock after acquiring an additional 450,221 shares during the quarter. DocuSign makes up 2.3% of Syon Capital LLC’s investment portfolio, making the stock its 10th biggest position. Syon Capital LLC’s holdings in DocuSign were worth $32,711,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC grew its position in shares of DocuSign by 781.7% during the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after buying an additional 469 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of DocuSign in the third quarter valued at approximately $32,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of DocuSign in the fourth quarter valued at approximately $32,000. Performa Ltd US LLC boosted its holdings in shares of DocuSign by 50.0% in the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after acquiring an additional 275 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in shares of DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In related news, Director Teresa Briggs sold 499 shares of DocuSign 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 transaction, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction 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 directly owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the sale, the chief executive officer now owns 111,767 shares in the company, valued at $6,847,964.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,871 shares of company stock valued at $3,176,199. Company insiders own 17.80% of the company’s stock.

DocuSign Stock Performance

Shares of DocuSign stock traded down $0.15 during trading on Friday, reaching $57.20. 1,116,393 shares of the company’s stock were exchanged, compared to its average volume of 3,256,530. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a market cap of $11.75 billion, a P/E ratio of 158.37, a PEG ratio of 5.01 and a beta of 0.89. The firm’s 50-day moving average price is $56.35 and its 200 day moving average price is $52.55.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and increased their target price for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. Wells Fargo & Company cut their target price on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.25.

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.