Balyasny Asset Management L.P. Lowers Stake in DocuSign, Inc. (NASDAQ:DOCU)

Balyasny Asset Management L.P. decreased its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 84.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,304 shares of the company's stock after selling 672,537 shares during the period. Balyasny Asset Management L.P. owned about 0.06% of DocuSign worth $11,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Rhumbline Advisers increased its stake in DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after purchasing an additional 330,136 shares in the last quarter. KBC Group NV increased its holdings in DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company's stock valued at $138,067,000 after buying an additional 378,233 shares during the period. Jennison Associates LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at $12,897,000. Principal Financial Group Inc. lifted its holdings in shares of DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock worth $49,179,000 after acquiring an additional 529,308 shares during the last quarter. Finally, Amundi grew its position in DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company's stock worth $123,486,000 after acquiring an additional 1,172,368 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the sale, the chief financial officer now directly owns 86,156 shares of the company's stock, valued at $6,555,610.04. This represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The stock was 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 owns 8,270 shares in the company, valued at approximately $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 sold 55,851 shares of company stock worth $4,607,439 in the last three months. Corporate insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DOCU. Citigroup boosted their price objective on shares of DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. Morgan Stanley cut their target price on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lowered their target price on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $92.46.

DocuSign Stock Down 1.0 %

NASDAQ DOCU traded down $0.85 during trading hours on Friday, reaching $83.29. The company's stock had a trading volume of 860,718 shares, compared to its average volume of 2,752,274. The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm's 50-day moving average price is $80.15 and its 200-day moving average price is $84.58.

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. 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%. DocuSign's quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. Equities research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign 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.