Two Sigma Investments LP Reduces Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Two Sigma Investments LP lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 57.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,852 shares of the company's stock after selling 198,189 shares during the quarter. Two Sigma Investments LP owned 0.07% of DocuSign worth $13,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after purchasing an additional 330,136 shares during the last quarter. KBC Group NV raised its stake in DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company's stock valued at $138,067,000 after buying an additional 378,233 shares in the last quarter. Jennison Associates LLC purchased a new stake in DocuSign during the 4th quarter worth about $12,897,000. Principal Financial Group Inc. boosted its position in shares of DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock worth $49,179,000 after acquiring an additional 529,308 shares in the last quarter. Finally, Amundi increased its holdings in shares of DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company's stock valued at $123,486,000 after acquiring an additional 1,172,368 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Up 1.9%

NASDAQ:DOCU traded up $1.64 during midday trading on Tuesday, reaching $86.25. The stock had a trading volume of 1,782,864 shares, compared to its average volume of 2,765,290. The stock has a market cap of $17.47 billion, a P/E ratio of 17.78, a P/E/G ratio of 6.94 and a beta of 1.21. The firm has a fifty day simple moving average of $81.74 and a two-hundred day simple moving average of $85.85. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month 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, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, sell-side analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of research analyst reports. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday, March 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 target price on shares of DocuSign in a research report on Thursday, April 17th. UBS Group reduced their price target on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. raised 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 report on Monday, March 10th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. One investment 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, the company has an average rating of "Hold" and an average price target of $92.46.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction dated 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 in the company, valued at $6,555,610.04. This trade represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares in the company, valued at $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. In the last three months, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.01% of the company's stock.

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.