Snowden Capital Advisors LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Snowden Capital Advisors LLC purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,073 shares of the company's stock, valued at approximately $546,000.

A number of other hedge funds have also recently made changes to their positions in DOCU. FMR LLC boosted its stake in shares of DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after purchasing an additional 3,908,139 shares in the last quarter. Invesco Ltd. boosted its stake in shares of DocuSign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock valued at $310,048,000 after purchasing an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new stake in shares of DocuSign during the fourth quarter valued at about $223,196,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of DocuSign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock valued at $194,118,000 after purchasing an additional 1,442,639 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its stake in shares of 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 valued at $427,642,000 after purchasing an additional 1,205,500 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DOCU. Citigroup raised 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. Bank of America lowered their price objective on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Wells Fargo & Company lowered their price objective on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research 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 stock. According to data from MarketBeat, DocuSign has a consensus rating of "Hold" and an average target price of $92.46.

DocuSign Stock Performance

Shares of DOCU stock opened at $89.73 on Wednesday. The company has a market cap of $18.17 billion, a P/E ratio of 18.50, a PEG ratio of 6.94 and a beta of 1.21. The stock has a 50 day simple moving average of $81.71 and a two-hundred day simple moving average of $85.48. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. On average, research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the sale, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. The trade was a 14.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value 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. This represents a 6.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock worth $3,912,239 over the last quarter. 1.01% of the stock is currently owned by corporate insiders.

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.

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