Citigroup Inc. Has $22.07 Million Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Citigroup Inc. lowered its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 9.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,149 shares of the company's stock after selling 28,569 shares during the period. Citigroup Inc. owned about 0.13% of Docusign worth $22,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Age Alpha Advisors LLC boosted its holdings in Docusign by 738.2% in the first quarter. New Age Alpha Advisors LLC now owns 41,187 shares of the company's stock valued at $3,353,000 after purchasing an additional 36,273 shares during the last quarter. Pinpoint Asset Management Ltd boosted its holdings in Docusign by 54.3% in the first quarter. Pinpoint Asset Management Ltd now owns 56,985 shares of the company's stock valued at $4,639,000 after purchasing an additional 20,043 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Docusign in the first quarter valued at about $618,000. Gilman Hill Asset Management LLC lifted its holdings in Docusign by 4.9% during the 1st quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock worth $6,864,000 after buying an additional 3,904 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Docusign by 1.7% during the 1st quarter. Blair William & Co. IL now owns 387,542 shares of the company's stock worth $31,546,000 after buying an additional 6,460 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Buying and Selling

In other Docusign news, insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total value of $1,710,821.25. Following the completion of the sale, the insider owned 72,126 shares of the company's stock, valued at $5,394,303.54. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the sale, the chief executive officer directly owned 143,983 shares of the company's stock, valued at $11,160,122.33. This represents a 21.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,552 shares of company stock worth $5,983,631 over the last ninety days. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup reduced their target price on Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. William Blair reaffirmed an "outperform" rating on shares of Docusign in a report on Monday, April 21st. Bank of America reduced their target price on Docusign from $88.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Wells Fargo & Company raised Docusign from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $67.00 to $80.00 in a report on Friday, June 13th. Finally, Wall Street Zen downgraded Docusign from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $89.77.

Docusign Price Performance

DOCU traded up $1.90 during trading on Friday, reaching $70.90. 2,107,877 shares of the stock traded hands, compared to its average volume of 2,234,166. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 25.75 and a beta of 1.01. Docusign Inc. has a fifty-two week low of $54.31 and a fifty-two week high of $107.86. The stock's 50-day simple moving average is $75.92 and its two-hundred day simple moving average is $81.23.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The firm had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. During the same quarter last year, the firm earned $0.82 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a share repurchase program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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.