Aviva PLC Sells 183,715 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Aviva PLC reduced its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 58.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,480 shares of the company's stock after selling 183,715 shares during the quarter. Aviva PLC owned about 0.06% of DocuSign worth $11,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kestra Investment Management LLC bought a new position in shares of DocuSign in the fourth quarter worth approximately $30,000. Modus Advisors LLC bought a new stake in shares of DocuSign in the 4th quarter worth $36,000. First Horizon Advisors Inc. raised its stake in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Avion Wealth lifted its holdings in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after purchasing an additional 368 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, March 14th. Bank of America reduced their price target on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. JMP Securities reissued a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. Finally, William Blair upgraded shares of DocuSign from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $93.85.

Insider Buying and Selling at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the sale, the insider now owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. This represents a 14.05 % 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, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock worth $3,998,719 over the last ninety days. Company insiders own 1.66% of the company's stock.

DocuSign Stock Performance

NASDAQ:DOCU traded up $1.99 during trading hours on Monday, reaching $76.34. The stock had a trading volume of 332,221 shares, compared to its average volume of 2,718,879. The stock has a market capitalization of $15.46 billion, a PE ratio of 15.74, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company has a 50 day moving average price of $82.95 and a two-hundred day moving average price of $82.90.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same quarter last year, the business earned $0.76 earnings per share. DocuSign's quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

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.