Syon Capital LLC Has $32.71 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Syon Capital LLC boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 450.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 550,221 shares of the company's stock after buying an additional 450,221 shares during the quarter. DocuSign accounts for about 2.3% of Syon Capital LLC's investment portfolio, making the stock its 10th largest position. Syon Capital LLC owned approximately 0.27% of DocuSign worth $32,711,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in DocuSign by 321.3% in the third quarter. Assenagon Asset Management S.A. now owns 214,877 shares of the company's stock worth $9,025,000 after buying an additional 163,875 shares during the last quarter. Executive Wealth Management LLC acquired a new position in DocuSign in the 3rd quarter worth approximately $1,000,000. SG Americas Securities LLC boosted its stake in DocuSign by 93.1% in the 4th quarter. SG Americas Securities LLC now owns 78,423 shares of the company's stock worth $4,662,000 after purchasing an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in DocuSign by 77.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company's stock worth $51,057,000 after purchasing an additional 531,682 shares during the period. Finally, Grimes & Company Inc. acquired a new position in DocuSign in the 3rd quarter worth approximately $12,047,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DOCU shares. Wells Fargo & Company decreased their price objective on shares of DocuSign from $55.00 to $45.00 and set an "underweight" rating for the company in a research note on Monday, February 5th. Morgan Stanley raised shares of DocuSign from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $84.00 price objective on shares of DocuSign in a research note on Friday, April 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday, April 12th. Finally, UBS Group raised shares of DocuSign from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of "Hold" and an average price target of $60.25.

Insider Activity at DocuSign

In related news, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares of the company's stock, valued at approximately $510,842.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares of the company's stock, valued at approximately $510,842.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,680 shares of DocuSign stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,871 shares of company stock valued at $3,176,199. Insiders own 17.80% of the company's stock.

DocuSign Stock Down 0.3 %

Shares of NASDAQ:DOCU traded down $0.15 during trading on Friday, reaching $57.20. 1,116,933 shares of the company traded hands, compared to its average volume of 3,258,841. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The firm has a fifty day simple moving average of $56.49 and a 200 day simple moving average of $52.65. The firm has a market cap of $11.75 billion, a P/E ratio of 158.89, a price-to-earnings-growth ratio of 5.01 and a beta of 0.89.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The business had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. As a group, research analysts anticipate that DocuSign, Inc. will post 0.86 EPS for the current year.

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.