5,323 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Horizon Investment Services LLC

Horizon Investment Services LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,323 shares of the company’s stock, valued at approximately $479,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign in the third quarter valued at about $28,000. Kestra Investment Management LLC acquired a new position in shares of DocuSign during the 4th quarter worth approximately $30,000. Brooklyn Investment Group purchased a new stake in DocuSign in the 3rd quarter valued at approximately $33,000. Modus Advisors LLC acquired a new stake in DocuSign during the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. increased its position in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DocuSign

In other news, 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 transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,851 shares of company stock worth $8,579,369. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Down 2.9 %

Shares of DOCU stock opened at $83.18 on Friday. The firm’s 50 day moving average price is $87.18 and its two-hundred day moving average price is $81.17. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced 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. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. On average, equities analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a research report on Friday, March 14th. JMP Securities reissued a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Citigroup increased their price target on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Wells Fargo & Company lifted their price objective on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Finally, Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.00.

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.