River Global Investors LLP Trims Holdings in DocuSign, Inc. (NASDAQ:DOCU)

River Global Investors LLP reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,932 shares of the company’s stock after selling 353 shares during the quarter. River Global Investors LLP’s holdings in DocuSign were worth $1,720,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DOCU. Vanguard Group Inc. boosted its position in DocuSign by 2.4% during the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock valued at $881,260,000 after purchasing an additional 482,472 shares in the last quarter. AQR Capital Management LLC grew its position in shares of DocuSign by 147.4% in the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after buying an additional 1,136,948 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of DocuSign by 166.4% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock worth $56,478,000 after acquiring an additional 839,883 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of DocuSign by 77.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock worth $51,057,000 after acquiring an additional 531,682 shares in the last quarter. Finally, Armistice Capital LLC lifted its position in DocuSign by 18.8% during the third quarter. Armistice Capital LLC now owns 703,147 shares of the company’s stock valued at $29,532,000 after acquiring an additional 111,147 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Up 1.8 %

NASDAQ DOCU traded up $1.04 on Friday, hitting $59.80. 1,294,556 shares of the stock were exchanged, compared to its average volume of 1,390,186. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The company has a 50-day moving average price of $57.24 and a 200-day moving average price of $53.38. The company has a market cap of $12.28 billion, a PE ratio of 166.11, a PEG ratio of 5.17 and a beta of 0.88.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The firm had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. As a group, equities research analysts predict that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DOCU shares. Wells Fargo & Company decreased their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research report on Monday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research note on Friday, April 12th. JMP Securities reissued a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Friday, April 12th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $62.00 in a research report on Friday, April 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average price target of $60.25.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the transaction, the director now directly owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the transaction, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $57.50, for a total transaction of $103,500.00. Following the transaction, the insider now owns 46,503 shares of the company’s stock, valued at approximately $2,673,922.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,277 shares of company stock worth $3,159,756. 17.80% of the stock is currently owned by insiders.

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.