J2 Capital Management Inc Takes $353,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

J2 Capital Management Inc purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,335 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors have also made changes to their positions in DOCU. FMR LLC lifted its position in DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares in the last quarter. American Century Companies Inc. boosted its position in DocuSign by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after purchasing an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after purchasing an additional 1,205,500 shares in the last quarter. Renaissance Technologies LLC grew its stake in DocuSign by 4.9% in the fourth quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after purchasing an additional 205,304 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in DocuSign by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock valued at $335,147,000 after purchasing an additional 249,179 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This trade represents a 6.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s 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 represents a 14.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,851 shares of company stock worth $3,912,239. Insiders own 1.01% of the company’s stock.

DocuSign Price Performance

NASDAQ DOCU opened at $87.75 on Friday. The firm has a market cap of $17.77 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock’s 50 day simple moving average is $81.62 and its 200 day simple moving average is $85.92.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. As a group, equities analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on DOCU shares. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Morgan Stanley decreased their target price on DocuSign from $97.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Wedbush restated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. HSBC raised DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price target for the company in a report on Friday, April 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.46.

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.