Two Sigma Advisers LP Sells 1,293,400 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Two Sigma Advisers LP lessened its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 80.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 315,900 shares of the company’s stock after selling 1,293,400 shares during the period. Two Sigma Advisers LP’s holdings in DocuSign were worth $28,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at approximately $30,000. First Horizon Advisors Inc. raised its holdings in DocuSign by 102.6% during 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. lifted its position in shares of DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock worth $42,000 after acquiring an additional 392 shares in the last quarter. Avion Wealth lifted its position in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after acquiring an additional 368 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after acquiring an additional 145 shares during the period. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DOCU. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Robert W. Baird set a $93.00 price target on DocuSign in a research report on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Thursday, April 17th. HSBC upgraded shares of DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price objective for the company in a research report on Friday, April 11th. Finally, Bank of America decreased their target price 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.46.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company’s stock, valued at $722,880.70. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 over the last 90 days. Corporate insiders own 1.01% of the company’s stock.

DocuSign Price Performance

Shares of DocuSign stock opened at $89.73 on Wednesday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market cap of $18.17 billion, a PE ratio of 18.50, a PEG ratio of 6.94 and a beta of 1.21. The company has a 50 day simple moving average of $81.71 and a two-hundred day simple moving average of $85.48.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating 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 firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter last year, the company posted $0.76 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.