Vanguard Group Inc. Trims Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Vanguard Group Inc. reduced its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 21,729,878 shares of the company’s stock after selling 145,952 shares during the period. Vanguard Group Inc. owned 0.11% of DocuSign worth $1,954,385,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign during the third quarter worth about $28,000. Kestra Investment Management LLC acquired a new stake in DocuSign during the 4th quarter worth approximately $30,000. Brooklyn Investment Group purchased a new position in shares of DocuSign in the 3rd quarter valued at approximately $33,000. Modus Advisors LLC acquired a new position in shares of DocuSign in the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. raised its stake in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

DOCU opened at $86.91 on Thursday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company has a market cap of $17.60 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 6.94 and a beta of 1.02. The business’s fifty day moving average is $87.41 and its two-hundred day moving average is $80.95.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the prior year, the company earned $0.76 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. On average, analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DOCU. Jefferies Financial Group lifted their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Wedbush restated a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Morgan Stanley boosted their target price on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company raised their price target on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,851 shares of company stock valued at $8,579,369 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

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.