PARUS FINANCE UK Ltd Invests $1.86 Million in DocuSign, Inc. (NASDAQ:DOCU)

PARUS FINANCE UK Ltd acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,700 shares of the company’s stock, valued at approximately $1,862,000. DocuSign accounts for approximately 0.6% of PARUS FINANCE UK Ltd’s holdings, making the stock its 22nd biggest holding.

A number of other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in DocuSign in the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. increased its stake 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 purchasing an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new position in DocuSign during the fourth quarter worth $36,000. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign in the third quarter valued at $28,000. Finally, Avion Wealth grew its holdings in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DOCU. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. Citigroup raised their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 14th. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday, March 14th. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average target price of $95.00.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction 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 sale, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. This trade represents a 16.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the sale, the insider now directly owns 43,781 shares of the company’s stock, valued at $3,947,732.77. This represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock worth $8,579,369 in the last ninety days. 1.66% of the stock is currently owned by insiders.

DocuSign Stock Down 2.9 %

Shares of DOCU opened at $83.18 on Friday. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a market cap of $16.84 billion, a PE ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 1.02. The business’s 50-day moving average price is $87.18 and its 200-day moving average price is $81.17.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (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 analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. Analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal 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.