Alliancebernstein L.P. Purchases 156,518 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Alliancebernstein L.P. boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 70.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378,780 shares of the company’s stock after buying an additional 156,518 shares during the quarter. Alliancebernstein L.P.’s holdings in DocuSign were worth $34,067,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DOCU. Norges Bank bought a new position in shares of DocuSign during the fourth quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership raised its position in DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after purchasing an additional 1,442,639 shares during the last quarter. Amundi lifted its holdings in DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock worth $123,486,000 after buying an additional 1,172,368 shares during the period. American Century Companies Inc. grew its position in shares of DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after buying an additional 831,611 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of DocuSign by 61.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after buying an additional 637,505 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $72.21 on Friday. The firm has a market cap of $14.62 billion, a P/E ratio of 14.89, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The business’s 50 day simple moving average is $86.02 and its two-hundred day simple moving average is $82.17.

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

Analyst Ratings Changes

A number of equities analysts recently commented on DOCU shares. Robert W. Baird set a $93.00 price objective on DocuSign in a research note on Friday, March 14th. Citigroup boosted 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. 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. UBS Group dropped their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and upped their price target for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.83.

Insider Transactions at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,851 shares of company stock valued at $4,911,319 over the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign 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.