Twinbeech Capital LP Purchases Shares of 296,459 DocuSign, Inc. (NASDAQ:DOCU)

Twinbeech Capital LP purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 296,459 shares of the company's stock, valued at approximately $26,664,000. Twinbeech Capital LP owned about 0.15% of DocuSign as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. State of Wyoming raised its holdings in DocuSign by 178.7% in the 4th quarter. State of Wyoming now owns 4,565 shares of the company's stock valued at $411,000 after acquiring an additional 2,927 shares during the last quarter. Strategic Global Advisors LLC raised its holdings in DocuSign by 5.8% in the 4th quarter. Strategic Global Advisors LLC now owns 22,598 shares of the company's stock valued at $2,032,000 after acquiring an additional 1,233 shares during the last quarter. Toronto Dominion Bank raised its holdings in DocuSign by 1.3% in the 4th quarter. Toronto Dominion Bank now owns 26,508 shares of the company's stock valued at $2,384,000 after acquiring an additional 349 shares during the last quarter. Snowden Capital Advisors LLC acquired a new stake in DocuSign in the 4th quarter valued at about $546,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in DocuSign in the 4th quarter valued at about $772,000. Institutional investors and hedge funds own 77.64% of the company's stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU traded down $1.92 during midday trading on Friday, reaching $84.61. 1,338,670 shares of the stock were exchanged, compared to its average volume of 2,763,988. The stock has a market capitalization of $17.13 billion, a P/E ratio of 17.45, a PEG ratio of 6.94 and a beta of 1.21. The company has a 50 day simple moving average of $81.76 and a 200 day simple moving average of $85.68. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last 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 year.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the 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 transaction, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. The trade was a 14.64% 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. Company insiders own 1.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group cut their price objective on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 31st. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a report on Thursday, April 17th. William Blair reiterated an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. Wedbush reiterated a "neutral" rating and issued a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Finally, JMP Securities restated a "market outperform" rating and set a $124.00 price target on shares of DocuSign in a report on Thursday, April 17th. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $92.46.

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.