No Street GP LP Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

No Street GP LP acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 290,000 shares of the company's stock, valued at approximately $26,083,000. DocuSign comprises approximately 1.7% of No Street GP LP's investment portfolio, making the stock its 19th largest position. No Street GP LP owned approximately 0.14% of DocuSign at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DOCU. FMR LLC lifted its stake in shares of DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the last quarter. Invesco Ltd. lifted its stake in shares of DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after acquiring an additional 2,549,310 shares during the last quarter. Norges Bank bought a new stake in shares of DocuSign during the 4th quarter worth approximately $223,196,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after acquiring an additional 1,442,639 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its stake in shares of DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after acquiring an additional 1,205,500 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction 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 transaction, the director now directly owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's 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 transaction, the chief financial officer now owns 86,156 shares in the company, valued at approximately $6,555,610.04. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock worth $3,912,239 in the last ninety days. 1.66% of the stock is owned by insiders.

DocuSign Trading Up 2.1%

Shares of NASDAQ:DOCU traded up $1.87 on Friday, reaching $92.42. The company had a trading volume of 2,010,367 shares, compared to its average volume of 2,753,903. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm's 50 day simple moving average is $81.19 and its 200-day simple moving average is $85.09. The firm has a market capitalization of $18.72 billion, a PE ratio of 19.06, a PEG 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, beating 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 business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the business posted $0.76 EPS. The business's revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. Citigroup raised their price target on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. William Blair reissued an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. Wedbush reissued a "neutral" rating and set a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. UBS Group decreased their price target on DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $124.00 target price on shares of DocuSign in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has an average rating of "Hold" and an average price target of $92.46.

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.