Daiwa Securities Group Inc. Sells 9,073 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Daiwa Securities Group Inc. trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 37.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,872 shares of the company’s stock after selling 9,073 shares during the period. Daiwa Securities Group Inc.’s holdings in DocuSign were worth $884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. AQR Capital Management LLC increased its holdings in DocuSign by 147.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after purchasing an additional 1,136,948 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in 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 purchasing an additional 839,883 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 531,682 shares in the last quarter. International Assets Investment Management LLC increased its holdings in DocuSign by 4,438.8% during the 4th quarter. International Assets Investment Management LLC now owns 521,912 shares of the company’s stock worth $31,028,000 after purchasing an additional 510,413 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in DocuSign by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock worth $881,260,000 after purchasing an additional 482,472 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Activity at DocuSign

In other news, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the transaction, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,169 shares of the company’s stock, valued at $326,895.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the transaction, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,871 shares of company stock worth $3,176,199. Insiders own 17.80% of the company’s stock.

DocuSign Trading Up 1.0 %

DocuSign stock opened at $57.29 on Thursday. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The business’s 50 day simple moving average is $56.23 and its 200 day simple moving average is $52.51. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 159.14, a PEG ratio of 4.88 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. As a group, equities research analysts forecast that DocuSign, Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.