Lord Abbett & CO. LLC Acquires New Position in DocuSign, Inc. (NASDAQ:DOCU)

Lord Abbett & CO. LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 518,055 shares of the company's stock, valued at approximately $46,594,000. Lord Abbett & CO. LLC owned approximately 0.26% of DocuSign at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kestra Investment Management LLC bought a new position in shares of DocuSign in the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. grew its stake in DocuSign by 102.6% in 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 period. Modus Advisors LLC purchased a new position in DocuSign during the fourth quarter valued at $36,000. Bessemer Group Inc. boosted its holdings in shares of DocuSign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after buying an additional 392 shares in the last quarter. Finally, Avion Wealth grew its position in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after buying an additional 368 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DocuSign

In related news, insider Robert Chatwani sold 15,706 shares of the business's 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 sale, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of 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. Over the last 90 days, insiders have sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of recent research reports. Morgan Stanley lowered their price target on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Bank of America reduced 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. Citigroup boosted their target price on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Wells Fargo & Company lowered their price target on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, DocuSign has a consensus rating of "Hold" and a consensus target price of $92.46.

DocuSign Stock Performance

Shares of DOCU stock traded up $0.50 during trading hours on Thursday, reaching $82.25. The company had a trading volume of 546,476 shares, compared to its average volume of 2,735,149. The firm has a market cap of $16.66 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The business has a fifty day moving average price of $80.13 and a 200-day moving average price of $83.85. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.86 EPS 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 net margin of 34.73% and a return on equity of 14.90%. The firm's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Equities research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

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.