New York Life Investment Management LLC Cuts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

New York Life Investment Management LLC trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,513 shares of the company’s stock after selling 1,501 shares during the period. New York Life Investment Management LLC’s holdings in DocuSign were worth $1,398,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DOCU. AQR Capital Management LLC boosted its stake in DocuSign by 147.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after purchasing an additional 1,136,948 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in DocuSign by 166.4% in 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in DocuSign by 77.7% in 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 during the period. International Assets Investment Management LLC raised its holdings in DocuSign by 4,438.8% in 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 during the period. Finally, Vanguard Group Inc. raised its holdings in DocuSign by 2.4% in 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 during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

DocuSign stock opened at $58.31 on Wednesday. The company has a 50 day moving average price of $57.51 and a 200-day moving average price of $53.63. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The company has a market capitalization of $11.98 billion, a PE ratio of 161.98, a P/E/G ratio of 5.17 and a beta of 0.88.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The firm had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. On average, analysts forecast that DocuSign, Inc. will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,765 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.31, for a total value of $413,952.15. Following the completion of the transaction, the chief executive officer now owns 104,002 shares of the company’s stock, valued at $5,544,346.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other DocuSign news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the director now directly owns 783 shares of the company’s stock, valued at $46,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,765 shares of DocuSign stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.31, for a total transaction of $413,952.15. Following the completion of the transaction, the chief executive officer now directly owns 104,002 shares in the company, valued at $5,544,346.62. The disclosure for this sale can be found here. Insiders sold 55,277 shares of company stock valued at $3,159,756 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

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

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.