PARUS FINANCE UK Ltd Purchases New Shares in DocuSign, Inc. (NASDAQ:DOCU)

PARUS FINANCE UK Ltd acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,700 shares of the company's stock, valued at approximately $1,862,000. DocuSign comprises about 0.6% of PARUS FINANCE UK Ltd's portfolio, making the stock its 22nd largest position.

Several other hedge funds also recently added to or reduced their stakes in DOCU. Allstate Corp acquired a new position in DocuSign in the fourth quarter valued at about $531,000. Horizon Investment Services LLC purchased a new stake in shares of DocuSign in the 4th quarter valued at approximately $479,000. DnB Asset Management AS lifted its holdings in shares of DocuSign by 12.0% in the 4th quarter. DnB Asset Management AS now owns 37,620 shares of the company's stock worth $3,384,000 after acquiring an additional 4,020 shares during the last quarter. Level Four Advisory Services LLC boosted its position in shares of DocuSign by 2.3% during the 4th quarter. Level Four Advisory Services LLC now owns 106,826 shares of the company's stock worth $9,608,000 after purchasing an additional 2,370 shares during the period. Finally, Orion Portfolio Solutions LLC acquired a new stake in DocuSign in the 4th quarter valued at approximately $1,073,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DOCU. Robert W. Baird set a $93.00 price target on DocuSign in a research note on Friday, March 14th. 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. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Citigroup increased their price target on shares of DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, Bank of America dropped their price objective on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign currently has an average rating of "Hold" and a consensus target price of $95.83.

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DocuSign Price Performance

Shares of DocuSign stock traded up $1.29 during trading on Tuesday, hitting $82.69. 2,064,774 shares of the stock were exchanged, compared to its average volume of 2,686,704. The firm's 50-day moving average price is $87.01 and its 200 day moving average price is $81.71. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the business earned $0.76 EPS. DocuSign's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 40,000 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares of the company's stock, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is owned by corporate insiders.

DocuSign Company 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.