Alight Capital Management LP Sells 170,000 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Alight Capital Management LP decreased its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 85.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,000 shares of the company's stock after selling 170,000 shares during the quarter. Alight Capital Management LP's holdings in DocuSign were worth $2,698,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DOCU shares. Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. UBS Group reduced their target price on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Citigroup lifted their price target on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Morgan Stanley lowered their price objective on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $92.46.

DocuSign Stock Performance

Shares of DOCU traded up $0.31 during mid-day trading on Monday, reaching $82.44. 973,618 shares of the company's stock traded hands, compared to its average volume of 2,746,037. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a market capitalization of $16.69 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. The business's 50-day moving average price is $80.08 and its 200-day moving average price is $84.17.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. Equities research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business'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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was 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 owns 86,156 shares of the company's stock, valued at $6,555,610.04. This represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is owned by insiders.

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.