5,323 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Horizon Investment Services LLC

Horizon Investment Services LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,323 shares of the company's stock, valued at approximately $479,000.

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

Analyst Upgrades and Downgrades

DOCU has been the subject of several analyst reports. Citigroup upped their target price on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Finally, William Blair raised DocuSign from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of "Hold" and a consensus target price of $95.83.

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DocuSign Stock Up 1.6 %

NASDAQ DOCU traded up $1.29 during trading hours on Tuesday, hitting $82.69. The company had a trading volume of 2,018,971 shares, compared to its average volume of 2,686,523. The business has a fifty day simple moving average of $87.01 and a 200-day simple moving average of $81.71. The firm has a market cap of $16.74 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating 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 company had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This represents a 16.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is currently owned by corporate insiders.

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.