World Investment Advisors Sells 34,645 Shares of DocuSign, Inc. (NASDAQ:DOCU)

World Investment Advisors lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 92.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,629 shares of the company’s stock after selling 34,645 shares during the period. World Investment Advisors’ holdings in DocuSign were worth $236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bryce Point Capital LLC bought a new stake in DocuSign during the 4th quarter worth approximately $1,792,000. Massachusetts Financial Services Co. MA increased its holdings in DocuSign by 633.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 237,442 shares of the company’s stock worth $21,356,000 after acquiring an additional 205,051 shares during the period. Geode Capital Management LLC increased its holdings in DocuSign by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after acquiring an additional 249,179 shares during the period. HighPoint Advisor Group LLC bought a new stake in DocuSign during the 4th quarter worth approximately $229,000. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in DocuSign by 72.7% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 8,677 shares of the company’s stock worth $780,000 after acquiring an additional 3,652 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 11.7 %

Shares of DOCU opened at $78.59 on Thursday. The stock has a market capitalization of $15.91 billion, a P/E ratio of 16.20, a PEG ratio of 6.94 and a beta of 1.20. The firm has a fifty day simple moving average of $83.86 and a two-hundred day simple moving average of $82.56. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 EPS. Sell-side analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal 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 on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the transaction, the insider now directly owns 45,875 shares in the company, valued at approximately $3,730,096.25. This represents a 14.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s 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 transaction, the chief financial officer now owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,851 shares of company stock worth $4,911,319. 1.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. UBS Group cut their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. JMP Securities reissued a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group cut their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $95.83.

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.