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

Two Sigma Investments LP reduced its position 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 (SEC). The institutional investor owned 148,852 shares of the company's stock after selling 198,189 shares during the period. Two Sigma Investments LP owned 0.07% of DocuSign worth $13,388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Wyoming grew its stake 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 purchasing an additional 2,927 shares during the period. Strategic Global Advisors LLC boosted its holdings in shares of DocuSign by 5.8% in the 4th quarter. Strategic Global Advisors LLC now owns 22,598 shares of the company's stock worth $2,032,000 after buying an additional 1,233 shares during the last quarter. Toronto Dominion Bank grew its position in DocuSign by 1.3% during the fourth quarter. Toronto Dominion Bank now owns 26,508 shares of the company's stock valued at $2,384,000 after buying an additional 349 shares during the period. Snowden Capital Advisors LLC purchased a new stake in DocuSign during the fourth quarter worth about $546,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in DocuSign during the fourth quarter worth about $772,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Robert W. Baird set a $93.00 price objective on DocuSign in a research note on Friday, March 14th. Wells Fargo & Company reduced their price objective on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Bank of America lowered their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Finally, William Blair reiterated an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $92.46.

DocuSign Stock Down 0.5%

DOCU traded down $0.42 during trading on Wednesday, reaching $85.83. 2,154,638 shares of the company were exchanged, compared to its average volume of 2,762,878. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The company's 50-day moving average is $81.76 and its two-hundred day moving average is $85.85. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 6.94 and a beta of 1.21.

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

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction 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 directly owns 8,270 shares of the company's stock, valued at $722,880.70. This represents a 6.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 in the last three months. 1.01% of the stock is currently owned by corporate insiders.

DocuSign 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.