Alyeska Investment Group L.P. Purchases New Shares in DocuSign, Inc. (NASDAQ:DOCU)

Alyeska Investment Group L.P. bought a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 411,605 shares of the company's stock, valued at approximately $37,020,000. Alyeska Investment Group L.P. owned 0.20% of DocuSign as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in DocuSign during the fourth quarter worth about $30,000. Modus Advisors LLC acquired a new stake in shares of DocuSign during the 4th quarter worth about $36,000. First Horizon Advisors Inc. grew its holdings in shares of 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. Bessemer Group Inc. boosted its position in DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after acquiring an additional 392 shares during the last quarter. Finally, Avion Wealth lifted its stake in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

DocuSign Trading Up 0.7 %

DOCU stock traded up $0.59 during trading on Wednesday, hitting $82.24. The company had a trading volume of 2,028,513 shares, compared to its average volume of 2,746,850. The business has a 50 day moving average of $80.09 and a 200 day moving average of $84.23. The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

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 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 company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the prior year, the business posted $0.76 EPS. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

DOCU has been the subject of several research analyst reports. JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Bank of America lowered their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. William Blair restated an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has a consensus rating of "Hold" and an average price target of $92.46.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the sale, the insider now directly owns 45,875 shares of the company's stock, valued at $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,851 shares of company stock valued at $4,607,439. Corporate insiders own 1.66% of the company's stock.

About DocuSign

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.