Alpha DNA Investment Management LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Alpha DNA Investment Management LLC acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,698 shares of the company's stock, valued at approximately $1,052,000.

Other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of DocuSign during the fourth quarter valued at $30,000. First Horizon Advisors Inc. boosted its position 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 buying an additional 201 shares during the period. Modus Advisors LLC purchased a new stake in DocuSign in the 4th quarter valued at about $36,000. Bessemer Group Inc. grew its stake in DocuSign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after acquiring an additional 392 shares in the last quarter. Finally, Avion Wealth increased its position in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after acquiring an additional 368 shares during the period. Institutional investors own 77.64% of the company's stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research reports. Morgan Stanley lowered their price target on DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a report on Friday, April 11th. Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research note on Tuesday. Finally, Robert W. Baird set a $93.00 target price on shares of DocuSign in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $92.46.

DocuSign Trading Up 4.9 %

Shares of DOCU traded up $3.65 during midday trading on Wednesday, hitting $77.85. 587,429 shares of the company's stock traded hands, compared to its average volume of 2,726,062. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth 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 firm's fifty day moving average is $80.73 and its 200-day moving average is $83.38.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping 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 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 company earned $0.76 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the sale, the chief financial officer now directly owns 86,156 shares in the company, valued at approximately $6,555,610.04. The trade was a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,851 shares of company stock valued at $4,607,439. Insiders own 1.66% of the company's stock.

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.