Picton Mahoney Asset Management Buys 829 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Picton Mahoney Asset Management increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,223 shares of the company’s stock after buying an additional 829 shares during the period. Picton Mahoney Asset Management’s holdings in DocuSign were worth $650,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after buying an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares in the last quarter. Quantinno Capital Management LP raised its stake in DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after buying an additional 57,104 shares in the last quarter. Rhumbline Advisers raised its stake in DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV raised its stake in DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after buying an additional 378,233 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOCU has been the subject of a number of analyst reports. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Bank of America decreased their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup raised their target price on shares of DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company raised their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Wedbush reaffirmed a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $95.58.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.77, for a total transaction of $758,160.00. Following the transaction, the chief financial officer now owns 101,439 shares in the company, valued at $9,613,374.03. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares in the company, valued at $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is owned by insiders.

DocuSign Trading Up 14.8 %

Shares of DOCU stock opened at $85.76 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm’s 50 day moving average is $87.97 and its 200 day moving average is $79.37. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter last year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.