Meridian Investment Counsel Inc. Sells 526 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Meridian Investment Counsel Inc. lessened its stake in DocuSign, Inc. (NASDAQ:DOCU) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,174 shares of the company’s stock after selling 526 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in DocuSign were worth $2,624,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DOCU. Kestra Investment Management LLC acquired a new position in DocuSign in the 4th quarter worth $30,000. First Horizon Advisors Inc. lifted its holdings in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of DocuSign during the fourth quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the third quarter worth about $28,000. Finally, Avion Wealth raised its position in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. This represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,851 shares of company stock valued at $8,579,369. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DOCU shares. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Citigroup increased their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 14th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Piper Sandler increased their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Robert W. Baird set a $93.00 target price on DocuSign in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

DocuSign Stock Down 2.9 %

DOCU opened at $83.18 on Monday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The business has a 50 day moving average of $87.18 and a 200-day moving average of $81.54. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.