Redwood Investment Management LLC Buys New Position in DocuSign, Inc. (NASDAQ:DOCU)

Redwood Investment Management LLC acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,786 shares of the company's stock, valued at approximately $1,420,000.

A number of other large investors also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new position in DocuSign in the 4th quarter worth $30,000. First Horizon Advisors Inc. grew its stake in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of DocuSign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after buying an additional 392 shares during the period. Avion Wealth lifted its stake in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after acquiring an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of DocuSign by 36.5% in the 4th 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Morgan Stanley decreased their price target on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group cut their target price on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. UBS Group lowered their price target on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company dropped their price target on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Finally, William Blair restated an "outperform" rating on shares of DocuSign in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $92.46.

DocuSign Stock Up 1.2%

Shares of NASDAQ:DOCU traded up $1.06 during trading on Thursday, hitting $86.49. The stock had a trading volume of 561,314 shares, compared to its average volume of 2,756,253. The company has a market capitalization of $17.51 billion, a PE ratio of 17.84, a PEG ratio of 6.94 and a beta of 1.21. The firm's fifty day moving average is $81.71 and its 200 day moving average is $85.48. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the transaction, the chief financial officer now directly owns 86,156 shares of the company's stock, valued at $6,555,610.04. The trade was 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 quarter. Corporate insiders own 1.01% of the company's stock.

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.