PARUS FINANCE UK Ltd Buys New Holdings in DocuSign, Inc. (NASDAQ:DOCU)

PARUS FINANCE UK Ltd acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 20,700 shares of the company’s stock, valued at approximately $1,862,000. DocuSign accounts for about 0.6% of PARUS FINANCE UK Ltd’s portfolio, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after purchasing an additional 120,743 shares during the period. American Century Companies Inc. raised its stake in DocuSign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after buying an additional 831,611 shares in the last quarter. Geode Capital Management LLC boosted its position in DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares in the last quarter. Norges Bank bought a new position in shares of DocuSign in the 4th quarter worth approximately $223,196,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of DocuSign by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock valued at $208,494,000 after purchasing an additional 40,825 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Wells Fargo & Company raised their price target on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, March 14th. UBS Group decreased their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.00.

DocuSign Stock Performance

DOCU stock opened at $83.18 on Friday. The firm has a fifty day moving average price of $87.18 and a 200 day moving average price of $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, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. On average, equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was 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 in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,851 shares of company stock valued at $8,579,369. Insiders own 1.66% of the company’s stock.

DocuSign Company Profile

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.