DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 17.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,901 shares of the company’s stock after selling 13,314 shares during the period. Commonwealth Equity Services LLC’s holdings in DocuSign were worth $5,477,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DOCU. Amundi grew its stake in DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock worth $123,486,000 after buying an additional 1,172,368 shares during the last quarter. Bank of New York Mellon Corp grew its stake in DocuSign by 61.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after buying an additional 637,505 shares during the last quarter. Fiera Capital Corp purchased a new position in DocuSign during the 4th quarter worth approximately $47,920,000. Principal Financial Group Inc. grew its stake in DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after buying an additional 529,308 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after purchasing an additional 434,312 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOCU. HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wedbush reiterated a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Citigroup lifted their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.00.

DocuSign Stock Performance

Shares of DOCU stock opened at $88.06 on Friday. The stock has a fifty day moving average price of $87.54 and a 200 day moving average price of $80.31. The stock has a market cap of $17.79 billion, a PE ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data 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 analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is owned by insiders.

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.