Redwood Investment Management LLC Invests $1.42 Million in DocuSign, Inc. (NASDAQ:DOCU)

Redwood Investment Management LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,786 shares of the company's stock, valued at approximately $1,420,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Citizens Financial Group Inc. RI lifted its holdings in shares of DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock worth $539,000 after acquiring an additional 133 shares during the period. Rakuten Securities Inc. lifted its holdings in DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD lifted its holdings in DocuSign by 3.4% during the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock valued at $381,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp lifted its holdings in DocuSign by 1.3% during the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after purchasing an additional 143 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in DocuSign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock valued at $50,000 after purchasing an additional 143 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a report on Thursday, April 17th. JMP Securities reissued a "market outperform" rating and set a $124.00 price target on shares of DocuSign in a report on Thursday, April 17th. William Blair reissued an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. Finally, Wedbush reaffirmed a "neutral" rating and issued a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. One 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 company's stock. According to data from MarketBeat, DocuSign has an average rating of "Hold" and a consensus target price of $92.46.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $92.42 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company has a 50 day moving average of $81.19 and a 200-day moving average of $85.09. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. During the same quarter in the previous year, the company earned $0.76 EPS. DocuSign's revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were 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 approximately $722,880.70. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now owns 93,960 shares of the company's stock, valued at approximately $7,817,472. This represents a 14.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock worth $3,912,239 in the last quarter. 1.66% of the stock is owned by company insiders.

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.

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