Citizens Financial Group Inc. RI Increases Position in DocuSign, Inc. (NASDAQ:DOCU)

Citizens Financial Group Inc. RI grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 21.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,129 shares of the company’s stock after purchasing an additional 1,278 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in DocuSign were worth $381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Comerica Bank lifted its position in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of DocuSign by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares during the last quarter. KBC Group NV grew its holdings in shares of DocuSign by 119.3% in the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock valued at $43,945,000 after purchasing an additional 402,084 shares during the period. Retirement Systems of Alabama acquired a new stake in DocuSign during the first quarter worth about $8,700,000. Finally, PGGM Investments raised its stake in DocuSign by 36.7% during the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after purchasing an additional 13,379 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several analyst reports. Bank of America increased their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.45.

Insider Buying and Selling at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the completion of the sale, the chief financial officer now owns 87,611 shares in the company, valued at $4,859,782.17. The disclosure for this sale can be found here. Insiders have sold 460,864 shares of company stock valued at $24,549,227 in the last quarter. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $56.64 on Thursday. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The company has a 50 day moving average price of $55.76 and a 200 day moving average price of $56.13. The stock has a market capitalization of $11.60 billion, a P/E ratio of 108.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, research analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

DocuSign 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.