That kitty was valued at $100.9 million as of Friday’s close and $106.7 million in recent trading.
DocuSign tanked 42% Friday and recently traded at $142.82, up 5.7%.
ARK’s flagship fund, ARK Innovation ETF (ARKK) - Get Free Report purchased 461,662 shares, ARK Next Generation Internet ETF (ARKW) - Get Free Report accounted for 178,334 shares, and Ark Fintech Innovation ETF (ARKF) - Get Free Report snatched 106,968, shares.
The stock cratered on disappointing billing numbers for the latest quarter.
Morningstar analyst Dan Romanoff thinks DocuSign’s drop was overdone, too.
“We are lowering our fair value estimate for narrow-moat DocuSign to $244 per share, from $290, as we have adjusted our model based on near-term guidance, which reduces our growth forecast over the next several years,” he wrote in a commentary Thursday.
“DocuSign delivered generally solid results, exceeding our above-consensus revenue and profitability estimates while falling meaningfully short on billings.
“The firm also provided lower guidance for the fourth quarter. Management was guiding more conservatively to start the year thinking the pandemic-fueled demand would wane sooner, but strength persisted and began to unravel this quarter, hence the diminished outlook.
“[The shares] had already sold off 25% over the last three months, so our initial inclination is the after-hours move [Thursday] is punitive towards management rather than fundamental.
“However, we believe annual guidance released next quarter for fiscal 2023 will serve as a catalyst, negative or positive, for the stock as expectations can be reset further.”