Redwood Financial Network Corp Buys Shares of 2,242 DocuSign, Inc. (NASDAQ:DOCU)

Redwood Financial Network Corp purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,242 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Redwood Investment Management LLC bought a new stake in shares of DocuSign during the fourth quarter worth about $1,420,000. Polar Capital Holdings Plc purchased a new position in DocuSign in the fourth quarter valued at about $6,803,000. ProShare Advisors LLC bought a new stake in shares of DocuSign in the fourth quarter valued at $886,000. Quantinno Capital Management LP increased its stake in shares of DocuSign by 17.5% in the fourth quarter. Quantinno Capital Management LP now owns 236,829 shares of the company’s stock worth $21,300,000 after purchasing an additional 35,283 shares in the last quarter. Finally, Morgens Waterfall Vintiadis & Co. Inc. purchased a new position in shares of DocuSign in the fourth quarter worth about $6,476,000. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This represents a 14.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the sale, the insider now owns 45,875 shares in the company, valued at $3,730,096.25. This represents a 14.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,851 shares of company stock valued at $3,912,239. 1.66% of the stock is currently owned by insiders.

DocuSign Stock Performance

NASDAQ:DOCU opened at $90.55 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company has a fifty day moving average of $80.93 and a two-hundred day moving average of $84.93. The stock has a market capitalization 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 (NASDAQ:DOCU) last posted 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. The business had revenue of $776.25 million for 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. Research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Thursday, April 17th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. Bank of America cut their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, Hsbc Global Res upgraded shares of DocuSign from a “moderate sell” rating to a “hold” rating in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $92.46.

About DocuSign

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.