No Street GP LP Acquires Shares of 290,000 DocuSign, Inc. (NASDAQ:DOCU)

No Street GP LP acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 290,000 shares of the company’s stock, valued at approximately $26,083,000. DocuSign accounts for approximately 1.7% of No Street GP LP’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors also recently bought and sold shares of DOCU. FMR LLC lifted its position in shares of DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after acquiring an additional 3,908,139 shares in the last quarter. American Century Companies Inc. lifted its position in shares of DocuSign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after acquiring an additional 831,611 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after acquiring an additional 1,205,500 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of DocuSign by 4.9% in the fourth quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after acquiring an additional 205,304 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of DocuSign by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock valued at $335,147,000 after acquiring an additional 249,179 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOCU has been the topic of several research reports. Robert W. Baird set a $93.00 target price on DocuSign in a research report on Friday, March 14th. Wells Fargo & Company decreased their target price on DocuSign from $73.00 to $65.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley lowered their price objective 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. UBS Group lowered their price objective on DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup boosted their price objective on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.46.

Insider Transactions at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This represents a 16.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This represents a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

DOCU opened at $90.34 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 capitalization of $18.29 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 6.94 and a beta of 1.21. The business has a fifty day moving average price of $80.47 and a 200 day moving average price of $84.75.

DocuSign (NASDAQ:DOCU) last released its 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 return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the previous year, the firm posted $0.76 EPS. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

DocuSign 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.