DocuSign, Inc. (NASDAQ:DOCU) Holdings Cut by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 24.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,259 shares of the company’s stock after selling 13,406 shares during the quarter. Neuberger Berman Group LLC’s holdings in DocuSign were worth $3,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Kestra Investment Management LLC acquired a new stake in DocuSign in the fourth quarter worth $30,000. First Horizon Advisors Inc. increased its holdings in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares during the period. Modus Advisors LLC bought a new stake in DocuSign in the 4th quarter valued at about $36,000. Bessemer Group Inc. boosted its stake in DocuSign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock valued at $42,000 after purchasing an additional 392 shares during the period. Finally, Avion Wealth grew its position in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DOCU. Bank of America reduced their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Robert W. Baird set a $93.00 target price on shares of DocuSign 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 report on Friday, March 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has an average rating of “Hold” and an average target price of $93.85.

DocuSign Price Performance

DocuSign stock opened at $74.35 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm’s 50 day simple moving average is $82.95 and its 200-day simple moving average is $82.76. The company has a market cap of $15.06 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 previous year, the company posted $0.76 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,851 shares of company stock worth $3,998,719. 1.66% of the stock is owned by corporate insiders.

DocuSign Company 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.