Bridgefront Capital LLC Buys Shares of 11,267 Docusign Inc. $DOCU

Bridgefront Capital LLC purchased a new stake in shares of Docusign Inc. (NASDAQ:DOCU) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,267 shares of the company’s stock, valued at approximately $812,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOCU. Norges Bank purchased a new position in Docusign during the second quarter valued at approximately $140,987,000. Third Point LLC purchased a new stake in Docusign in the 2nd quarter worth approximately $48,681,000. Alliancebernstein L.P. lifted its stake in Docusign by 132.8% in the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock worth $67,650,000 after purchasing an additional 495,380 shares in the last quarter. Andra AP fonden bought a new position in Docusign in the 3rd quarter valued at $34,956,000. Finally, Duquesne Family Office LLC grew its position in shares of Docusign by 30.6% during the 3rd quarter. Duquesne Family Office LLC now owns 1,685,950 shares of the company’s stock valued at $121,540,000 after purchasing an additional 395,510 shares in 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, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the transaction, the chief executive officer directly owned 142,261 shares in the company, valued at approximately $9,901,365.60. This represents a 15.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $67.03, for a total value of $804,360.00. Following the transaction, the insider owned 54,550 shares in the company, valued at $3,656,486.50. This trade represents a 18.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 74,810 shares of company stock valued at $5,115,951. 1.66% of the stock is currently owned by company insiders.

Docusign Stock Performance

Docusign stock opened at $47.05 on Monday. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $94.67. The stock has a market cap of $9.42 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The firm’s fifty day moving average price is $51.81 and its 200-day moving average price is $64.87.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DOCU shares. Piper Sandler decreased their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Jefferies Financial Group lowered Docusign from a “buy” rating to a “hold” rating and decreased their target price for the stock from $105.00 to $45.00 in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. dropped their price target on Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.80.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.