Caz Investments LP Decreases Stake in DocuSign, Inc. (NASDAQ:DOCU)

Caz Investments LP cut its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 83.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the company’s stock after selling 2,500 shares during the period. DocuSign comprises about 0.1% of Caz Investments LP’s investment portfolio, making the stock its 23rd biggest holding. Caz Investments LP’s holdings in DocuSign were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DOCU. State Street Corp boosted its stake in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after acquiring an additional 120,743 shares during the last quarter. American Century Companies Inc. raised its stake in shares of DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after purchasing an additional 831,611 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after purchasing an additional 53,554 shares during the last quarter. Norges Bank acquired a new position in DocuSign in the fourth quarter worth about $223,196,000. Finally, Thrivent Financial for Lutherans increased its holdings in DocuSign by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock valued at $208,494,000 after buying an additional 40,825 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This represents a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,851 shares of company stock valued at $8,579,369. Company insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $83.18 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business has a 50 day simple moving average of $87.18 and a 200 day simple moving average of $81.17.

DocuSign (NASDAQ:DOCU) last released its quarterly 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 company had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, equities analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on DOCU. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Citigroup raised their price objective on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. 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. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Finally, Morgan Stanley boosted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.00.

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.