Kazazian Asset Management LLC Acquires Shares of 32,147 DocuSign, Inc. (NASDAQ:DOCU)

Kazazian Asset Management LLC acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 32,147 shares of the company’s stock, valued at approximately $2,891,000. DocuSign accounts for 2.2% of Kazazian Asset Management LLC’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Apollon Wealth Management LLC bought a new position in shares of DocuSign during the third quarter valued at $203,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of DocuSign by 9.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock valued at $338,000 after acquiring an additional 481 shares during the period. Metis Global Partners LLC bought a new position in shares of DocuSign during the third quarter valued at $224,000. CIBC Asset Management Inc lifted its holdings in shares of DocuSign by 5.4% during the third quarter. CIBC Asset Management Inc now owns 7,293 shares of the company’s stock valued at $453,000 after acquiring an additional 372 shares during the period. Finally, Natixis Advisors LLC bought a new position in shares of DocuSign during the third quarter valued at $873,000. 77.64% of the stock is owned by institutional investors.

Insider Transactions at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,034 shares of company stock worth $5,932,352. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Up 1.9 %

Shares of DOCU stock opened at $85.01 on Wednesday. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a 50-day moving average price of $87.75 and a 200 day moving average price of $79.87.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. Sell-side analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DOCU shares. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Morgan Stanley lifted their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company lifted their price target on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $95.00.

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.