Polar Capital Holdings Plc Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Polar Capital Holdings Plc bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 75,638 shares of the company’s stock, valued at approximately $6,803,000.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of DocuSign in the 4th quarter valued at $30,000. First Horizon Advisors Inc. increased its holdings in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the period. Bessemer Group Inc. increased its holdings in shares of DocuSign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock valued at $42,000 after acquiring an additional 392 shares during the period. Avion Wealth increased its holdings 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 period. Finally, Avior Wealth Management LLC increased its holdings 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 period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at $7,817,472. The trade was a 14.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 in the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $90.55 on Friday. The stock has a fifty day moving average price of $80.93 and a 200 day moving average price of $84.93. The stock has a market cap of $18.34 billion, a PE ratio of 18.67, a P/E/G ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data 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 business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period in the previous year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of DocuSign from $73.00 to $65.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their price objective on shares of DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group lowered their price objective on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. HSBC upgraded shares of DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price objective on the stock in a research report on Friday, April 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.46.

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.