DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 219,456 shares of the company's stock after selling 89,086 shares during the quarter. Driehaus Capital Management LLC owned about 0.11% of DocuSign worth $19,738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Wilmington Savings Fund Society FSB bought a new position in shares of DocuSign during the third quarter worth $51,000. Franklin Resources Inc. grew its holdings in DocuSign by 12.1% during the 3rd quarter. Franklin Resources Inc. now owns 520,925 shares of the company's stock valued at $35,870,000 after buying an additional 56,221 shares in the last quarter. GAMMA Investing LLC grew its holdings in DocuSign by 311.8% during the 4th quarter. GAMMA Investing LLC now owns 803 shares of the company's stock valued at $72,000 after buying an additional 608 shares in the last quarter. Friedenthal Financial purchased a new position in DocuSign during the 4th quarter valued at approximately $54,000. Finally, Miracle Mile Advisors LLC purchased a new position in DocuSign during the 4th quarter valued at approximately $257,000. Institutional investors own 77.64% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on DOCU. Wedbush restated a "neutral" rating and set a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Wells Fargo & Company dropped their price objective on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Thursday, April 17th. JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Citigroup upped their target price on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $92.46.

DocuSign Stock Performance

NASDAQ:DOCU traded down $0.85 during mid-day trading on Friday, hitting $83.29. 860,718 shares of the company's stock traded hands, compared to its average volume of 2,752,274. The company has a fifty day moving average of $80.15 and a 200 day moving average of $84.58. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a market capitalization of $16.87 billion, a P/E ratio of 17.17, a P/E/G ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its 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. The company had revenue of $776.25 million for 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 firm's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. On average, research analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at $6,765,251.90. The trade was a 9.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 45,875 shares in the company, valued at $3,730,096.25. This represents a 14.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock worth $4,607,439 over the last quarter. 1.01% of the stock is currently owned by insiders.

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.