Aviva PLC Reduces Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Aviva PLC cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 58.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,480 shares of the company’s stock after selling 183,715 shares during the period. Aviva PLC owned 0.06% of DocuSign worth $11,645,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after buying an additional 120,743 shares in the last quarter. American Century Companies Inc. raised its holdings in DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after acquiring an additional 831,611 shares during the last quarter. Geode Capital Management LLC lifted its position in DocuSign by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after buying an additional 249,179 shares in the last quarter. Norges Bank purchased a new stake in shares of DocuSign in the 4th quarter valued at approximately $223,196,000. Finally, Thrivent Financial for Lutherans increased its position in shares of DocuSign by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock worth $208,494,000 after purchasing an additional 40,825 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DOCU shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Wells Fargo & Company boosted their price objective on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Wedbush reiterated a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and upped their target price for the company from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Robert W. Baird set a $93.00 target price on DocuSign in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.83.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the sale, the insider now owns 45,875 shares of the company’s stock, valued at $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,851 shares of company stock valued at $4,911,319 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Down 2.2 %

Shares of NASDAQ:DOCU opened at $70.35 on Wednesday. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a fifty day simple moving average of $84.56 and a 200 day simple moving average of $82.45.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the previous year, the company earned $0.76 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.17 EPS 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.