Pinpoint Asset Management Ltd Takes $3.32 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Pinpoint Asset Management Ltd bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 36,942 shares of the company's stock, valued at approximately $3,323,000. DocuSign makes up 0.6% of Pinpoint Asset Management Ltd's portfolio, making the stock its 26th biggest position.

Several other large investors have also recently added to or reduced their stakes in DOCU. State Street Corp raised its holdings in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after buying an additional 120,743 shares in the last quarter. American Century Companies Inc. lifted its position in shares of DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock worth $478,072,000 after acquiring an additional 831,611 shares during the period. Geode Capital Management LLC boosted its stake in DocuSign by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company's stock worth $335,147,000 after buying an additional 249,179 shares in the last quarter. Norges Bank acquired a new stake in shares of DocuSign during the 4th quarter valued at about $223,196,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of DocuSign by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company's stock valued at $208,494,000 after purchasing an additional 40,825 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their target price on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 31st. William Blair upgraded shares of DocuSign from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Citigroup raised their target price on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Robert W. Baird set a $93.00 price target on shares of DocuSign in a report on Friday, March 14th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $95.83.

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Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 7,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now directly owns 45,875 shares in the company, valued at $3,730,096.25. The trade was a 14.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,851 shares of company stock valued at $4,911,319. Company insiders own 1.66% of the company's stock.

DocuSign Trading Down 0.4 %

Shares of DOCU stock traded down $0.26 during trading on Monday, reaching $71.95. 4,106,032 shares of the company's stock traded hands, compared to its average volume of 2,706,123. The company has a market capitalization of $14.57 billion, a P/E ratio of 14.84, a PEG ratio of 6.94 and a beta of 1.20. The firm's 50-day moving average is $86.02 and its 200 day moving average is $82.35. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same quarter in the prior year, the firm posted $0.76 EPS. The firm's quarterly revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

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.