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

Caz Investments LP lowered its position in DocuSign, Inc. (NASDAQ:DOCU) by 83.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the company’s stock after selling 2,500 shares during the period. DocuSign makes up about 0.1% of Caz Investments LP’s investment portfolio, making the stock its 23rd biggest position. Caz Investments LP’s holdings in DocuSign were worth $45,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in DocuSign in the fourth quarter valued at $30,000. First Horizon Advisors Inc. grew its stake in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. Modus Advisors LLC acquired a new stake in DocuSign in the 4th quarter valued at about $36,000. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the 3rd quarter valued at about $28,000. Finally, Avion Wealth raised its position in DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after acquiring an additional 368 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Down 2.9 %

Shares of DOCU opened at $83.18 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company’s fifty day moving average is $87.18 and its two-hundred day moving average is $81.17. The firm has a market cap of $16.84 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million for 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 firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. As a group, equities research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’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 sale, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at approximately $7,817,472. This represents a 14.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Wells Fargo & Company raised their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Morgan Stanley upped their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Wedbush reiterated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Finally, Robert W. Baird set a $93.00 target price on shares of DocuSign in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.