DocuSign, Inc. (NASDAQ:DOCU) Position Lifted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC grew its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 111.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,712 shares of the company's stock after purchasing an additional 11,455 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in DocuSign were worth $1,953,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. increased its position in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of DocuSign in the 4th quarter worth $36,000. Avion Wealth boosted its stake in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after buying an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after buying an additional 145 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider James P. Shaughnessy sold 7,500 shares of the firm'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 sale, the insider now directly owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. This trade represents a 14.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Solvik sold 10,000 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the sale, the director now directly owns 150,253 shares of the company's stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,851 shares of company stock valued at $4,911,319. Insiders own 1.66% of the company's stock.

Remove Ads

DocuSign Price Performance

Shares of NASDAQ DOCU traded down $5.23 on Thursday, hitting $73.37. The company's stock had a trading volume of 314,297 shares, compared to its average volume of 2,710,067. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The stock has a 50 day moving average of $83.86 and a 200-day moving average of $82.56.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DOCU shares. Robert W. Baird set a $93.00 price objective on DocuSign in a research note on Friday, March 14th. UBS Group reduced their price target on DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Wedbush reissued a "neutral" rating and set a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday, March 14th. 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. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $95.83.

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.