Point72 Asset Management L.P. Buys 21,028 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Point72 Asset Management L.P. grew its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,385 shares of the company's stock after buying an additional 21,028 shares during the period. Point72 Asset Management L.P. owned 0.13% of DocuSign worth $15,981,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the third quarter valued at approximately $28,000. Mather Group LLC. raised its position in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company's stock valued at $31,000 after purchasing an additional 564 shares during the period. Brooklyn Investment Group purchased a new position in shares of DocuSign during the 3rd quarter valued at $33,000. Reston Wealth Management LLC bought a new position in DocuSign in the 3rd quarter worth $47,000. Finally, nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter worth $48,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

Shares of NASDAQ DOCU traded up $23.31 during mid-day trading on Friday, hitting $106.99. 19,795,270 shares of the company's stock traded hands, compared to its average volume of 2,404,295. DocuSign, Inc. has a 1 year low of $44.34 and a 1 year high of $107.86. The company's 50-day moving average is $74.66 and its two-hundred day moving average is $62.00. The company has a market capitalization of $21.72 billion, a P/E ratio of 22.06, a PEG ratio of 8.70 and a beta of 0.92.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. Equities analysts anticipate that DocuSign, Inc. will post 1.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DOCU shares. Piper Sandler boosted their price objective on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday. HSBC reissued a "reduce" rating on shares of DocuSign in a research note on Friday. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research note on Friday. Citigroup lifted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a research report on Friday. Finally, Jefferies Financial Group upped their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, DocuSign presently has a consensus rating of "Hold" and an average price target of $92.45.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,648 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the transaction, the chief executive officer now owns 115,589 shares in the company, valued at $7,220,844.83. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,596 shares of company stock worth $4,441,529. Company insiders own 1.66% of the company's stock.

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.