Proficio Capital Partners LLC Buys New Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Proficio Capital Partners LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 52,525 shares of the company’s stock, valued at approximately $4,724,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after purchasing an additional 637,505 shares during the period. Fiera Capital Corp acquired a new position in DocuSign during the fourth quarter worth $47,920,000. Principal Financial Group Inc. lifted its stake in shares of DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after buying an additional 529,308 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of DocuSign by 42.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after buying an additional 434,312 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of DocuSign by 718,151.7% during the fourth quarter. Assetmark Inc. now owns 416,586 shares of the company’s stock worth $37,468,000 after acquiring an additional 416,528 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DOCU. Piper Sandler raised their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group raised their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. UBS Group decreased their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday. Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday. Finally, William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, DocuSign currently has an average rating of “Hold” and an average target price of $95.58.

DocuSign Stock Performance

Shares of DOCU stock opened at $83.43 on Tuesday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm’s 50-day simple moving average is $87.82 and its two-hundred day simple moving average is $79.69. The firm has a market cap of $16.85 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 15,588 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the sale, the chief financial officer now directly owns 85,851 shares in the company, valued at approximately $8,394,510.78. This represents a 15.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company’s stock, valued at $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,422 shares of company stock valued at $8,903,395 in the last 90 days. 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.