196,450 Shares in DocuSign, Inc. (NASDAQ:DOCU) Acquired by Castleark Management LLC

Castleark Management LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 196,450 shares of the company's stock, valued at approximately $17,669,000. DocuSign makes up approximately 0.6% of Castleark Management LLC's portfolio, making the stock its 28th biggest holding. Castleark Management LLC owned 0.10% of DocuSign at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in DOCU. FMR LLC lifted its position in shares of DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the last quarter. Invesco Ltd. increased its holdings in DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock valued at $310,048,000 after buying an additional 2,549,310 shares during the last quarter. Norges Bank acquired a new stake in DocuSign in the fourth quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership lifted its holdings in DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after buying an additional 1,442,639 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its holdings in DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after buying an additional 1,205,500 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on DOCU shares. Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Wedbush reissued a "neutral" rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. HSBC upgraded shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a research report on Friday, April 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. Finally, Morgan Stanley cut their price target on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $92.46.

DocuSign Stock Performance

NASDAQ DOCU opened at $89.73 on Wednesday. The firm's fifty day moving average is $81.71 and its two-hundred day moving average is $85.48. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market cap of $18.17 billion, a PE ratio of 18.50, a P/E/G ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued 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 firm had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now owns 76,842 shares of the company's stock, valued at approximately $6,392,485.98. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares of the company's stock, 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 47,851 shares of company stock worth $3,912,239 over the last 90 days. 1.01% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.