Lecap Asset Management Ltd. Purchases New Holdings in Docusign Inc. $DOCU

Lecap Asset Management Ltd. acquired a new position in Docusign Inc. (NASDAQ:DOCU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 16,313 shares of the company’s stock, valued at approximately $1,176,000.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Docusign in the second quarter worth approximately $140,987,000. Third Point LLC purchased a new position in Docusign in the 2nd quarter valued at $48,681,000. Jupiter Asset Management Ltd. boosted its stake in Docusign by 88.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock worth $102,538,000 after purchasing an additional 617,200 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Docusign by 132.8% during the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock worth $67,650,000 after purchasing an additional 495,380 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Docusign during the second quarter worth $32,294,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the transaction, the insider owned 54,550 shares of the company’s stock, valued at $3,656,486.50. This represents a 18.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.05, for a total value of $402,300.00. Following the sale, the executive directly owned 68,970 shares of the company’s stock, valued at $4,624,438.50. The trade was a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 45,542 shares of company stock valued at $3,092,260. 1.01% of the stock is currently owned by company insiders.

Docusign Price Performance

Shares of NASDAQ DOCU opened at $69.57 on Thursday. Docusign Inc. has a 1 year low of $63.41 and a 1 year high of $99.30. The company has a market capitalization of $13.93 billion, a P/E ratio of 48.65, a P/E/G ratio of 3.21 and a beta of 0.99. The company has a 50 day simple moving average of $68.56 and a 200-day simple moving average of $72.99.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Wednesday, December 17th. Evercore ISI cut their price objective on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, December 5th. Royal Bank Of Canada decreased their target price on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Monday. Piper Sandler dropped their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, UBS Group reduced their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.13.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.