Blair William & Co. IL Trims Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Blair William & Co. IL decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,082 shares of the company’s stock after selling 15,961 shares during the quarter. Blair William & Co. IL’s holdings in DocuSign were worth $34,275,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co boosted its stake in shares of DocuSign by 14.8% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 20,781 shares of the company’s stock worth $1,869,000 after acquiring an additional 2,672 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in DocuSign by 10.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 149,797 shares of the company’s stock worth $13,513,000 after purchasing an additional 14,216 shares during the period. Korea Investment CORP lifted its position in DocuSign by 46.2% during the fourth quarter. Korea Investment CORP now owns 223,591 shares of the company’s stock valued at $20,110,000 after purchasing an additional 70,606 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in DocuSign during the fourth quarter valued at about $558,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in DocuSign by 64.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,873 shares of the company’s stock worth $1,518,000 after buying an additional 6,631 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Trading Down 1.4 %

NASDAQ:DOCU opened at $85.65 on Friday. The business’s 50-day moving average is $87.30 and its 200 day moving average is $80.98. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The company has a market capitalization of $17.34 billion, a P/E ratio of 17.66, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the prior year, the company earned $0.76 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Wedbush reiterated a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. Piper Sandler raised their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Bank of America lowered their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at $7,817,472. This represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock valued at $8,579,369 in the last three months. Corporate insiders own 1.66% of the company’s stock.

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.