DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 17.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,901 shares of the company’s stock after selling 13,314 shares during the period. Commonwealth Equity Services LLC’s holdings in DocuSign were worth $5,477,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Citizens Financial Group Inc. RI raised its holdings in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after acquiring an additional 133 shares during the last quarter. Rakuten Securities Inc. raised its holdings in DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after acquiring an additional 138 shares during the last quarter. Synergy Financial Group LTD raised its holdings in DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after acquiring an additional 140 shares during the last quarter. M&T Bank Corp raised its holdings in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after acquiring an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Trading Up 3.5 %

DOCU opened at $88.06 on Friday. The stock’s 50-day moving average price is $87.54 and its 200 day moving average price is $80.31. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 6.94 and a beta of 1.02.

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

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares of the company’s stock, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock valued at $8,579,369 in the last quarter. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DOCU. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Morgan Stanley raised their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Citigroup raised their price target on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Bank of America cut their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Jefferies Financial Group raised their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Two equities research 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. Based on data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $95.00.

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.