DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC cut its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 24.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,147 shares of the company's stock after selling 60,857 shares during the period. Gotham Asset Management LLC owned about 0.09% of DocuSign worth $16,922,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DOCU. Kestra Investment Management LLC acquired a new stake in DocuSign in the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. increased its position 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 purchasing an additional 201 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of DocuSign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares in the last quarter. Avion Wealth lifted its position in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction on 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 transaction, the director now owns 8,270 shares of the company's stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign 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 owns 86,156 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 55,851 shares of company stock worth $4,607,439. Insiders own 1.01% of the company's stock.

DocuSign Trading Down 1.0 %

NASDAQ:DOCU opened at $83.29 on Friday. The stock has a 50 day moving average of $80.15 and a 200-day moving average of $84.48. The firm has a market capitalization of $16.87 billion, a PE ratio of 17.17, a price-to-earnings-growth 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 issued 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. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the prior year, the business earned $0.76 EPS. The firm's revenue was up 9.0% on a year-over-year basis. As a group, analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on DOCU. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Citigroup increased their price objective on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Wells Fargo & Company lowered their price target on DocuSign from $73.00 to $65.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. William Blair restated an "outperform" rating on shares of DocuSign in a research report on Monday, April 21st. Finally, Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 31st. One research 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. According to MarketBeat.com, DocuSign presently has an average rating of "Hold" and an average target price of $92.46.

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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