Jericho Capital Asset Management L.P. Boosts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Jericho Capital Asset Management L.P. increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 34.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,754,753 shares of the company's stock after purchasing an additional 1,205,500 shares during the quarter. DocuSign accounts for 6.1% of Jericho Capital Asset Management L.P.'s holdings, making the stock its 3rd largest holding. Jericho Capital Asset Management L.P. owned about 2.35% of DocuSign worth $427,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DOCU shares. JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research note on Friday, March 14th. William Blair restated an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. JMP Securities reissued a "market outperform" rating and set a $124.00 price target on shares of DocuSign in a research report on Thursday, April 17th. Finally, Citigroup raised their price objective on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. One investment 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. Based on data from MarketBeat, DocuSign currently has an average rating of "Hold" and an average target price of $92.46.

Insider Activity at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares of the company's stock, valued at $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 approximately $6,555,610.04. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,851 shares of company stock worth $4,607,439 in the last three months. 1.66% of the stock is owned by company insiders.

DocuSign Stock Performance

Shares of DocuSign stock traded up $1.28 during trading on Friday, reaching $82.13. The company had a trading volume of 1,475,275 shares, compared to its average volume of 2,753,155. The company has a market cap of $16.63 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth 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. The firm's fifty day moving average is $80.08 and its 200-day moving average is $84.09.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating 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 business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period in the prior year, the company posted $0.76 EPS. The business's revenue was up 9.0% compared to the same quarter last year. On average, research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

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.