Shannon River Fund Management LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Shannon River Fund Management LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $899,000. DocuSign comprises about 0.1% of Shannon River Fund Management LLC's investment portfolio, making the stock its 17th biggest position.

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

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent research reports. JMP Securities reiterated a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research note on Thursday. Citigroup upped 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. UBS Group lowered their target price on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday. Robert W. Baird set a $93.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Bank of America cut their price target 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $93.08.

DocuSign Stock Down 1.3 %

Shares of DOCU traded down $0.97 during midday trading on Friday, hitting $75.42. The company had a trading volume of 1,308,166 shares, compared to its average volume of 2,740,164. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company's 50 day moving average price is $81.35 and its 200 day moving average price is $83.24. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 6.94 and a beta of 1.20.

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

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company's stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,851 shares of company stock worth $4,607,439 over the last ninety days. 1.66% of the stock is currently 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.