Morgens Waterfall Vintiadis & Co. Inc. Invests $6.48 Million in DocuSign, Inc. (NASDAQ:DOCU)

Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 72,000 shares of the company’s stock, valued at approximately $6,476,000. DocuSign makes up about 4.9% of Morgens Waterfall Vintiadis & Co. Inc.’s portfolio, making the stock its 7th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the period. American Century Companies Inc. lifted its holdings in DocuSign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after acquiring an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. grew its holdings in shares of DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. Renaissance Technologies LLC increased its position in shares of DocuSign by 4.9% during the fourth quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after acquiring an additional 205,304 shares during the last quarter. Finally, Geode Capital Management LLC raised its position 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 during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Bank of America cut their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. UBS Group dropped their price objective on DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group reduced their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. Finally, JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.46.

DocuSign Stock Performance

DOCU opened at $90.34 on Wednesday. The company has a market cap of $18.29 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a 50-day moving average of $80.47 and a 200-day moving average of $84.75.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $760.94 million. During the same quarter last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now directly owns 8,270 shares in the company, valued at $722,880.70. The trade was 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 8,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock worth $4,607,439 in the last quarter. 1.66% of the stock is owned by company 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.