DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by CastleKnight Management LP

CastleKnight Management LP lowered its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 76.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,400 shares of the company's stock after selling 17,600 shares during the quarter. CastleKnight Management LP's holdings in DocuSign were worth $486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of DocuSign by 11.8% in the fourth quarter. Cetera Investment Advisers now owns 50,329 shares of the company's stock worth $4,527,000 after acquiring an additional 5,302 shares in the last quarter. Captrust Financial Advisors raised its position in shares of DocuSign by 8.8% in the 4th quarter. Captrust Financial Advisors now owns 41,989 shares of the company's stock valued at $3,776,000 after purchasing an additional 3,402 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of DocuSign during the 4th quarter valued at approximately $5,505,000. Baker Avenue Asset Management LP grew its position in shares of DocuSign by 782.8% during the fourth quarter. Baker Avenue Asset Management LP now owns 28,575 shares of the company's stock worth $2,570,000 after buying an additional 25,338 shares in the last quarter. Finally, Ameriprise Financial Inc. increased 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 worth $106,703,000 after buying an additional 235,145 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Trading Down 0.8 %

Shares of NASDAQ:DOCU opened at $81.76 on Wednesday. The firm's 50 day moving average is $80.09 and its two-hundred day moving average is $84.23. The firm has a market capitalization of $16.56 billion, a P/E ratio of 16.86, a PEG ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week 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. 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 analysts' expectations of $760.94 million. During the same period last year, the firm earned $0.76 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. Analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Analyst Upgrades and Downgrades

DOCU has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, March 14th. UBS Group lowered their price objective on DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $92.46.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company'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 approximately $722,880.70. This represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This represents a 14.64 % 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 over the last ninety days. 1.66% of the stock is currently owned by corporate 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.

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