36,942 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Pinpoint Asset Management Ltd

Pinpoint Asset Management Ltd bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 36,942 shares of the company’s stock, valued at approximately $3,323,000. DocuSign accounts for approximately 0.6% of Pinpoint Asset Management Ltd’s holdings, making the stock its 26th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at $30,000. First Horizon Advisors Inc. lifted its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. Modus Advisors LLC acquired a new stake in DocuSign in the 4th quarter valued at about $36,000. Avion Wealth grew 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 purchasing an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings 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 purchasing an additional 145 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Trading Down 7.2 %

NASDAQ DOCU opened at $77.37 on Friday. The company has a market cap of $15.67 billion, a P/E ratio of 15.95, a P/E/G 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. The company has a fifty day simple moving average of $86.41 and a 200 day simple moving average of $81.88.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results 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. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the business posted $0.76 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the sale, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,851 shares of company stock worth $4,911,319. Company insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DOCU shares. William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Morgan Stanley lifted their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Bank of America reduced their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Wells Fargo & Company lifted their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.83.

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.