Lord Abbett & CO. LLC Invests $46.59 Million in DocuSign, Inc. (NASDAQ:DOCU)

Lord Abbett & CO. LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 518,055 shares of the company's stock, valued at approximately $46,594,000. Lord Abbett & CO. LLC owned approximately 0.26% of DocuSign at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DOCU. Kestra Investment Management LLC purchased a new stake in DocuSign in the 4th quarter valued at $30,000. Modus Advisors LLC purchased a new stake in shares of DocuSign in the fourth quarter valued at about $36,000. First Horizon Advisors Inc. lifted its position in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares in the last quarter. Finally, Avion Wealth boosted its holdings in DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on DOCU. Wells Fargo & Company dropped their target price on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America decreased their price target on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. JMP Securities reissued a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a research report on Thursday, April 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research report on Thursday, April 17th. Finally, HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of "Hold" and a consensus price target of $92.46.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 76,842 shares in the company, valued at $6,392,485.98. This represents a 16.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,851 shares of company stock valued at $4,607,439 in the last quarter. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Trading Up 0.3 %

Shares of DOCU stock traded up $0.24 during trading on Tuesday, reaching $82.27. 976,029 shares of the company's stock traded hands, compared to its average volume of 2,742,201. The firm's 50-day moving average is $80.25 and its 200 day moving average is $83.87. The company has a market capitalization of $16.66 billion, a P/E ratio of 16.96, a PEG ratio of 6.94 and a beta of 1.20. 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 posted its 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 firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. 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.