DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Comerica Bank

Comerica Bank boosted its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 193.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,394 shares of the company's stock after acquiring an additional 61,589 shares during the quarter. Comerica Bank's holdings in DocuSign were worth $8,400,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the last quarter. Invesco Ltd. raised its stake in DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock valued at $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new position in shares of DocuSign during the 4th quarter worth about $223,196,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of DocuSign by 201.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock valued at $194,118,000 after acquiring an additional 1,442,639 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. raised its position in shares of DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after acquiring an additional 1,205,500 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research analyst reports. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price target for the company in a report on Friday, April 11th. Citigroup increased their target price on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Wedbush restated a "neutral" rating and issued a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Morgan Stanley cut their target price on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. One investment 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 MarketBeat.com, DocuSign has a consensus rating of "Hold" and an average target price of $92.46.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $82.13 on Friday. The stock has a fifty day moving average price of $80.08 and a 200 day moving average price of $84.09. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a market cap of $16.63 billion, a PE ratio of 16.93, a P/E/G ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping 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 company had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. During the same quarter last year, the business earned $0.76 EPS. The business's revenue was up 9.0% on a year-over-year basis. Analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,851 shares of company stock valued at $4,607,439 in the last three months. 1.66% of the stock is currently owned by company insiders.

DocuSign 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.

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