Picton Mahoney Asset Management Acquires New Position in DocuSign, Inc. (NASDAQ:DOCU)

Picton Mahoney Asset Management purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,786 shares of the company’s stock, valued at approximately $150,000.

Other hedge funds have also bought and sold shares of the company. Metis Global Partners LLC bought a new stake in shares of DocuSign in the fourth quarter worth $208,000. Charles Schwab Investment Management Inc. grew its position in shares of DocuSign by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock valued at $74,925,000 after acquiring an additional 44,646 shares during the period. Comerica Bank increased its stake in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares in the last quarter. Vanguard Group Inc. raised its holdings in DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares during the period. Finally, KBC Group NV lifted its position in DocuSign by 119.3% during the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock valued at $43,945,000 after purchasing an additional 402,084 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 0.3 %

NASDAQ DOCU opened at $59.21 on Monday. The stock has a market cap of $12.12 billion, a PE ratio of 113.87, a PEG ratio of 9.74 and a beta of 0.94. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The company’s 50-day moving average price is $54.84 and its 200-day moving average price is $55.64.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $709.64 million during the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. As a group, sell-side analysts forecast that DocuSign, Inc. will post 0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of analyst reports. Bank of America reduced their price target on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Royal Bank of Canada decreased their target price on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Morgan Stanley dropped their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. JMP Securities restated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Wednesday, July 10th. Finally, Robert W. Baird dropped their target price on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, DocuSign has an average rating of “Hold” and an average target price of $59.36.

Insiders Place Their Bets

In related news, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the transaction, the director now directly owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the sale, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total transaction of $91,764.00. Following the sale, the insider now directly owns 35,703 shares of the company’s stock, valued at $1,820,138.94. The disclosure for this sale can be found here. Insiders have sold a total of 474,693 shares of company stock worth $25,067,629 in the last three months. Corporate insiders own 1.66% of the company’s stock.

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.