DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,390 shares of the company’s stock after selling 1,343 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DocuSign were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. AE Wealth Management LLC grew its stake in shares of DocuSign by 4.8% during the third quarter. AE Wealth Management LLC now owns 15,402 shares of the company’s stock worth $647,000 after purchasing an additional 703 shares in the last quarter. SG Americas Securities LLC lifted its position in DocuSign by 117.1% in the third quarter. SG Americas Securities LLC now owns 40,622 shares of the company’s stock valued at $1,706,000 after acquiring an additional 21,913 shares during the last quarter. Grimes & Company Inc. purchased a new stake in DocuSign in the third quarter valued at $12,047,000. U.S. Capital Wealth Advisors LLC lifted its position in DocuSign by 37.7% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 14,150 shares of the company’s stock valued at $594,000 after acquiring an additional 3,871 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC purchased a new stake in DocuSign in the third quarter valued at $456,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Trading Down 0.3 %

Shares of DOCU opened at $57.20 on Friday. The firm’s 50-day moving average is $56.49 and its two-hundred day moving average is $52.65. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The firm has a market capitalization of $11.75 billion, a P/E ratio of 158.89, a PEG ratio of 5.01 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. Analysts predict that DocuSign, Inc. will post 0.86 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DOCU. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $59.00 price target on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $49.00 to $64.00 in a report on Tuesday, January 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed 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 issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.25.

Insider Activity

In other news, Director Teresa Briggs sold 499 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the sale, the director now directly owns 6,169 shares in the company, valued at $326,895.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Teresa Briggs sold 499 shares of the company’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 owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,680 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total transaction of $470,553.60. Following the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Insiders have sold 54,871 shares of company stock worth $3,176,199 over the last ninety days. 17.80% of the stock is currently owned by insiders.

About DocuSign

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.