Stevens Capital Management LP Acquires Shares of 2,812 DocuSign, Inc. (NASDAQ:DOCU)

Stevens Capital Management LP bought a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,812 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its position in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after acquiring an additional 133 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD lifted its holdings in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after purchasing an additional 140 shares in the last quarter. M&T Bank Corp boosted its position in shares of DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after buying an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s stock in a transaction on 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 approximately $7,817,472. This trade represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,851 shares of company stock worth $8,579,369. 1.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on DOCU. Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Wells Fargo & Company boosted their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

DocuSign Price Performance

DOCU opened at $89.00 on Tuesday. The company has a 50 day simple moving average of $87.52 and a two-hundred day simple moving average of $80.69. The firm has a market cap of $18.02 billion, a P/E ratio of 18.35, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.