Neuberger Berman Group LLC Sells 13,406 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Neuberger Berman Group LLC trimmed its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 24.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,259 shares of the company's stock after selling 13,406 shares during the period. Neuberger Berman Group LLC's holdings in DocuSign were worth $3,711,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of DocuSign in the 4th quarter worth $30,000. Modus Advisors LLC bought a new stake in shares of DocuSign during the fourth quarter worth about $36,000. First Horizon Advisors Inc. raised its holdings in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Bessemer Group Inc. lifted its position in DocuSign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after acquiring an additional 392 shares in the last quarter. Finally, Avion Wealth boosted its stake in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after purchasing an additional 368 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a report on Wednesday. Citigroup upped their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Hsbc Global Res upgraded shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Robert W. Baird set a $93.00 target price on DocuSign in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, DocuSign currently has a consensus rating of "Hold" and a consensus price target of $93.46.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock worth $4,607,439 over the last ninety days. Corporate insiders own 1.66% of the company's stock.

DocuSign Stock Down 1.3 %

DOCU traded down $0.97 during mid-day trading on Thursday, reaching $75.42. 440,603 shares of the company traded hands, compared to its average volume of 2,722,182. The stock has a market capitalization of $15.27 billion, a P/E ratio of 15.56, a P/E/G 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's fifty day moving average price is $81.91 and its 200-day moving average price is $82.91.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. As a group, sell-side analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal 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.