ExodusPoint Capital Management LP Sells 202,629 Shares of DocuSign, Inc. (NASDAQ:DOCU)

ExodusPoint Capital Management LP trimmed its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 87.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,387 shares of the company's stock after selling 202,629 shares during the quarter. ExodusPoint Capital Management LP's holdings in DocuSign were worth $2,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI raised its stake in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after buying an additional 133 shares in the last quarter. Rakuten Securities Inc. increased its stake in DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock valued at $72,000 after acquiring an additional 138 shares during the period. Synergy Financial Group LTD raised its position in DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after purchasing an additional 140 shares in the last quarter. M&T Bank Corp lifted its stake in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock worth $975,000 after purchasing an additional 143 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after purchasing an additional 145 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Up 1.5 %

DOCU stock traded up $1.13 during midday trading on Friday, reaching $74.35. The company's stock had a trading volume of 2,008,138 shares, compared to its average volume of 2,726,737. The business's 50-day simple moving average is $82.95 and its 200-day simple moving average is $82.76. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market cap of $15.06 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

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

Insider Activity

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the sale, the insider now directly owns 45,875 shares in the company, valued at $3,730,096.25. This represents a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock valued at $3,998,719 in the last ninety days. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a research note on Friday. UBS Group cut their price target on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a report on Friday, March 14th. William Blair raised shares of DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Wedbush reaffirmed a "neutral" rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Finally, Bank of America reduced their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, DocuSign currently has an average rating of "Hold" and an average price target of $93.85.

DocuSign 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.