DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Retireful LLC

Retireful LLC lessened its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 16.7% during the first quarter, HoldingsChannel reports. The firm owned 13,510 shares of the company’s stock after selling 2,714 shares during the period. Retireful LLC’s holdings in DocuSign were worth $1,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC increased its stake in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares during the period. Invesco Ltd. raised its position in shares of DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after acquiring an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new stake in shares of DocuSign during the fourth quarter worth $223,196,000. Arrowstreet Capital Limited Partnership raised its stake in DocuSign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after acquiring an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its position in shares of DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was 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 approximately $7,817,472. This represents a 14.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 in the last ninety days. Company insiders own 1.01% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $93.84 on Thursday. The company has a market capitalization of $19.00 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. The business has a 50 day simple moving average of $82.00 and a 200 day simple moving average of $86.15. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

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

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. JMP Securities reissued a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday. Morgan Stanley reduced their price target on shares of DocuSign from $97.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.46.

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.