Two Sigma Investments LP Decreases 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 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,852 shares of the company's stock after selling 198,189 shares during the period. Two Sigma Investments LP owned about 0.07% of DocuSign worth $13,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Kestra Investment Management LLC bought a new stake in shares of DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after purchasing an additional 392 shares during the last quarter. Avion Wealth grew its holdings in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after acquiring an additional 145 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares of the company's stock, valued at $6,392,485.98. The trade was a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock valued at $3,912,239 over the last ninety days. 1.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on DOCU. Bank of America reduced their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Citigroup upped their target price on DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a report on Friday, March 14th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Thursday, April 17th. Finally, Wedbush restated a "neutral" rating and set a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, DocuSign has an average rating of "Hold" and a consensus price target of $92.46.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded down $0.31 during trading on Thursday, reaching $85.52. 479,111 shares of the stock were exchanged, compared to its average volume of 2,759,256. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a fifty day moving average of $81.72 and a two-hundred day moving average of $85.85. The firm has a market cap of $17.32 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21.

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. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period in the prior year, the firm earned $0.76 earnings per share. DocuSign's revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

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.