Cary Street Partners Financial LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Cary Street Partners Financial LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 61,213 shares of the company's stock, valued at approximately $5,505,000.

A number of other large investors have also recently added to or reduced their stakes in DOCU. Baker Avenue Asset Management LP boosted its holdings in DocuSign by 782.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 28,575 shares of the company's stock valued at $2,570,000 after purchasing an additional 25,338 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of DocuSign by 24.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,186,106 shares of the company's stock valued at $106,703,000 after buying an additional 235,145 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of DocuSign in the fourth quarter valued at about $37,020,000. Meiji Yasuda Life Insurance Co increased its stake in DocuSign by 158.3% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 15,176 shares of the company's stock valued at $1,365,000 after acquiring an additional 9,300 shares during the period. Finally, Wahed Invest LLC acquired a new position in DocuSign in the 4th quarter valued at approximately $463,000. Institutional investors own 77.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lowered their price target on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Wedbush reaffirmed a "neutral" rating and set a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $92.46.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded down $0.85 on Friday, hitting $83.29. The company's stock had a trading volume of 860,718 shares, compared to its average volume of 2,745,218. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a market capitalization of $16.87 billion, a PE ratio of 17.17, a PEG ratio of 6.94 and a beta of 1.21. The company has a 50-day simple moving average of $80.12 and a 200 day simple moving average of $84.30.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS 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 firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the business 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 expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock valued at $4,607,439 over the last ninety days. Insiders own 1.01% 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.