Caz Investments LP Buys 1,000 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Caz Investments LP lifted its position in DocuSign, Inc. (NASDAQ:DOCUFree Report) by 100.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,000 shares of the company’s stock after purchasing an additional 1,000 shares during the period. DocuSign comprises approximately 0.2% of Caz Investments LP’s portfolio, making the stock its 24th biggest holding. Caz Investments LP’s holdings in DocuSign were worth $119,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DOCU. Vanguard Group Inc. raised its position in DocuSign by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock valued at $881,260,000 after purchasing an additional 482,472 shares during the last quarter. Coatue Management LLC bought a new position in shares of DocuSign during the fourth quarter valued at approximately $288,274,000. Clearbridge Investments LLC lifted its stake in DocuSign by 4.6% in the fourth quarter. Clearbridge Investments LLC now owns 2,643,464 shares of the company’s stock worth $157,154,000 after acquiring an additional 116,128 shares during the period. Norges Bank bought a new stake in DocuSign in the fourth quarter valued at $133,826,000. Finally, AQR Capital Management LLC boosted its holdings in DocuSign by 147.4% in the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after acquiring an additional 1,136,948 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

DocuSign stock traded down $0.75 during mid-day trading on Wednesday, reaching $51.32. The stock had a trading volume of 2,694,774 shares, compared to its average volume of 3,016,943. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76. The company has a 50-day moving average price of $57.25 and a two-hundred day moving average price of $56.37. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 98.69, a PEG ratio of 4.28 and a beta of 0.89.

Insiders Place Their Bets

In related news, insider James P. Shaughnessy sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the transaction, the insider now directly owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Blake Jeffrey Grayson sold 7,018 shares of DocuSign stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.03, for a total value of $400,236.54. Following the completion of the sale, the chief financial officer now directly owns 21,051 shares in the company, valued at $1,200,538.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total transaction of $91,764.00. Following the transaction, 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. Over the last ninety days, insiders sold 49,312 shares of company stock valued at $2,838,531. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of several research analyst reports. Piper Sandler dropped their target price on shares of DocuSign from $65.00 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 price target on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Friday, June 7th. Morgan Stanley decreased their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Finally, Robert W. Baird dropped their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average target price of $59.36.

Check Out Our Latest Stock Analysis on DocuSign

DocuSign Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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