Baker Avenue Asset Management LP Purchases 25,338 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Baker Avenue Asset Management LP boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 782.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,575 shares of the company's stock after buying an additional 25,338 shares during the period. Baker Avenue Asset Management LP's holdings in DocuSign were worth $2,570,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its holdings in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD increased its holdings in shares of DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock valued at $381,000 after purchasing an additional 140 shares during the period. M&T Bank Corp boosted its holdings in shares of DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after acquiring an additional 143 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in DocuSign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock worth $50,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DOCU. William Blair restated an "outperform" rating on shares of DocuSign in a research report on Monday, April 21st. Morgan Stanley decreased their price objective on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company reduced their target price on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group reduced their price objective on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $92.46.

DocuSign Price Performance

DOCU traded up $1.98 during trading hours on Thursday, hitting $84.22. 1,442,844 shares of the stock were exchanged, compared to its average volume of 2,747,467. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. The stock has a 50-day simple moving average of $80.07 and a 200-day simple moving average of $84.21. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

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

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value 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 approximately $3,730,096.25. This trade represents a 14.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is owned by company 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.