DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Prudential PLC

Prudential PLC decreased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,084 shares of the company’s stock after selling 2,411 shares during the period. Prudential PLC’s holdings in DocuSign were worth $637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its holdings in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after buying an additional 6,081 shares in the last quarter. Rhumbline Advisers increased its stake in DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after purchasing an additional 330,136 shares in the last quarter. KBC Group NV raised its holdings in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares during the last quarter. Jennison Associates LLC purchased a new stake in DocuSign during the fourth quarter worth $12,897,000. Finally, Everence Capital Management Inc. purchased a new stake in DocuSign during the fourth quarter worth $720,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Bank of America dropped their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.83.

DocuSign Trading Down 0.4 %

DocuSign stock opened at $71.95 on Tuesday. The stock has a fifty day moving average price of $85.61 and a 200 day moving average price of $82.45. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm has a market capitalization of $14.57 billion, a P/E ratio of 14.84, a PEG 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 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 company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated 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 directly owns 45,875 shares in the company, valued at $3,730,096.25. This represents a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of DocuSign 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 directly owns 76,842 shares in the company, valued at $6,392,485.98. This represents a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,851 shares of company stock valued at $4,911,319 over the last quarter. Company insiders own 1.66% of the company’s stock.

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.