Sirios Capital Management L P Sells 62,889 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sirios Capital Management L P cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 87.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,680 shares of the company’s stock after selling 62,889 shares during the quarter. Sirios Capital Management L P’s holdings in DocuSign were worth $781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. KBC Group NV lifted its holdings in shares of DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after purchasing an additional 378,233 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of DocuSign in the 4th quarter valued at approximately $12,897,000. Everence Capital Management Inc. acquired a new stake in DocuSign during the 4th quarter valued at approximately $720,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after buying an additional 529,308 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Up 3.2 %

DocuSign stock opened at $74.20 on Wednesday. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a market cap of $15.02 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The business has a 50 day moving average price of $80.73 and a two-hundred day moving average price of $83.38.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm 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 was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. On average, analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DOCU shares. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Thursday, April 17th. Hsbc Global Res upgraded DocuSign from a “moderate sell” rating to a “hold” rating in a report on Friday, April 11th. Bank of America cut their target price on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Citigroup upped their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 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 assigned a buy rating to the stock. According to MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $92.46.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the 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 sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,851 shares of company stock worth $4,607,439. Insiders own 1.66% 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.