GAMMA Investing LLC Buys 285,644 Shares of DocuSign, Inc. (NASDAQ:DOCU)

GAMMA Investing LLC raised its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 35,572.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 286,447 shares of the company's stock after acquiring an additional 285,644 shares during the period. GAMMA Investing LLC owned about 0.14% of DocuSign worth $23,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc raised its position in DocuSign by 126.3% during the first quarter. Versant Capital Management Inc now owns 4,606 shares of the company's stock worth $375,000 after acquiring an additional 2,571 shares in the last quarter. Kera Capital Partners Inc. lifted its position in shares of DocuSign by 13.0% during the 1st quarter. Kera Capital Partners Inc. now owns 3,607 shares of the company's stock worth $294,000 after buying an additional 416 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of DocuSign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after purchasing an additional 274 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of DocuSign by 1,054.0% during the 4th quarter. Wellington Management Group LLP now owns 386,680 shares of the company's stock valued at $34,778,000 after acquiring an additional 353,172 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of DocuSign during the fourth quarter valued at about $154,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Down 19.0%

DOCU traded down $17.62 on Friday, hitting $75.28. The company's stock had a trading volume of 22,570,886 shares, compared to its average volume of 2,876,826. The company's 50 day simple moving average is $82.23 and its 200-day simple moving average is $86.25. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a market cap of $15.24 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.09. The business had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. Equities analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DOCU. JPMorgan Chase & Co. cut their price objective on DocuSign from $81.00 to $77.00 and set a "neutral" rating on the stock in a research note on Friday. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research report on Friday. William Blair restated an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Citigroup upped their target price on DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.15.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business'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 value 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 $6,555,610.04. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock valued at $3,912,239 in the last quarter. Insiders own 1.01% of the company's stock.

DocuSign Company 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.