Rhumbline Advisers Has $49 Million Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Rhumbline Advisers reduced its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 601,909 shares of the company's stock after selling 6,214 shares during the period. Rhumbline Advisers owned 0.30% of DocuSign worth $48,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its stake in shares of DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after buying an additional 3,908,139 shares during the period. American Century Companies Inc. boosted its position in shares of DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock worth $478,072,000 after purchasing an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of DocuSign by 34.0% in 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 purchasing an additional 1,205,500 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company's stock worth $392,434,000 after purchasing an additional 205,304 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of DocuSign by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company's stock worth $335,147,000 after purchasing an additional 249,179 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Trading Down 1.0%

Shares of DocuSign stock traded down $0.94 during trading on Thursday, reaching $92.90. The stock had a trading volume of 6,667,266 shares, compared to its average volume of 2,799,896. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 6.94 and a beta of 1.21. The stock has a fifty day moving average price of $82.00 and a two-hundred day moving average price of $86.15. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.41). DocuSign had a net margin of 34.73% and a return on equity of 14.90%. On average, equities analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird set a $93.00 price target on DocuSign in a research report on Friday, March 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price target on the stock in a research report on Friday, April 11th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Thursday, April 17th. Finally, Jefferies Financial Group reduced their target price on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign presently has a consensus rating of "Hold" and an average target price of $92.46.

Insider Activity

In related news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Tuesday, April 1st. The stock was 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. The trade was a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock worth $3,912,239 over the last three months. Corporate insiders own 1.01% of the company's stock.

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.