Forum Financial Management LP Invests $773,000 in DocuSign, Inc. (NASDAQ:DOCU)

Forum Financial Management LP bought a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,600 shares of the company's stock, valued at approximately $773,000.

A number of other large investors also recently modified their holdings of DOCU. FMR LLC lifted its holdings in DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after acquiring an additional 3,908,139 shares during the period. Invesco Ltd. grew its position in DocuSign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank purchased a new position in DocuSign during the fourth quarter worth about $223,196,000. Arrowstreet Capital Limited Partnership grew its position in DocuSign by 201.6% during the fourth 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 in the last quarter. Finally, Jericho Capital Asset Management L.P. grew its position in DocuSign by 34.0% during the fourth 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 in the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now owns 86,156 shares of the company's stock, valued at approximately $6,555,610.04. This represents a 8.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. This trade represents a 14.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.01% of the company's stock.

DocuSign Stock Performance

DOCU stock traded down $0.12 during trading on Thursday, hitting $85.71. 1,714,352 shares of the company traded hands, compared to its average volume of 2,763,943. The firm has a market capitalization of $17.36 billion, a PE ratio of 17.67, a P/E/G ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a 50-day moving average of $81.72 and a 200-day moving average of $85.85.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping 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 business had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. During the same quarter last year, the business posted $0.76 EPS. The business's revenue was up 9.0% on a year-over-year basis. Sell-side analysts expect that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analyst Weigh In

DOCU has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a report on Friday, April 11th. Citigroup upped their price objective on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Bank of America cut their price objective on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, DocuSign presently has a consensus rating of "Hold" and a consensus 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.