Price T Rowe Associates Inc. MD Reduces Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Price T Rowe Associates Inc. MD lowered its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 37.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,291,246 shares of the company's stock after selling 2,547,086 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.12% of DocuSign worth $385,956,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Quantessence Capital LLC purchased a new position in shares of DocuSign in the fourth quarter worth $231,000. Nippon Life Global Investors Americas Inc. bought a new stake in DocuSign in the 4th quarter valued at $8,494,000. Stifel Financial Corp lifted its stake in DocuSign by 8.2% in the 4th quarter. Stifel Financial Corp now owns 85,637 shares of the company's stock worth $7,702,000 after purchasing an additional 6,525 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of DocuSign during the 4th quarter valued at about $238,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of DocuSign during the fourth quarter valued at about $7,498,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research reports. Wells Fargo & Company dropped their price target on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Hsbc Global Res raised shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. JMP Securities reissued a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a research note on Thursday, April 17th. Citigroup upped 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. Finally, Wedbush reissued a "neutral" rating and set a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, DocuSign presently has a consensus rating of "Hold" and a consensus price target of $92.46.

Insider Activity

In other DocuSign 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 transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Performance

DocuSign stock traded down $1.42 during mid-day trading on Wednesday, hitting $80.85. The company's stock had a trading volume of 252,286 shares, compared to its average volume of 2,732,431. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a market cap of $16.37 billion, a PE ratio of 16.64, a P/E/G ratio of 6.94 and a beta of 1.20. The company has a 50 day moving average of $80.17 and a 200-day moving average of $83.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, equities research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal 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.