Virtus Investment Advisers Inc. Sells 5,245 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Virtus Investment Advisers Inc. cut its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,925 shares of the company's stock after selling 5,245 shares during the period. DocuSign accounts for 1.1% of Virtus Investment Advisers Inc.'s portfolio, making the stock its 13th largest holding. Virtus Investment Advisers Inc.'s holdings in DocuSign were worth $1,432,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in shares of DocuSign during the 4th quarter worth approximately $2,060,000. Twinbeech Capital LP bought a new position in shares of DocuSign in the fourth quarter valued at about $26,664,000. State of Wyoming raised its position in shares of DocuSign by 178.7% in the fourth quarter. State of Wyoming now owns 4,565 shares of the company's stock valued at $411,000 after purchasing an additional 2,927 shares during the period. Strategic Global Advisors LLC boosted its holdings in shares of DocuSign by 5.8% during the 4th quarter. Strategic Global Advisors LLC now owns 22,598 shares of the company's stock worth $2,032,000 after buying an additional 1,233 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of DocuSign by 1.3% during the 4th quarter. Toronto Dominion Bank now owns 26,508 shares of the company's stock worth $2,384,000 after buying an additional 349 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several research reports. HSBC upgraded shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a research report on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Thursday, April 17th. Morgan Stanley decreased their price target on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group cut their price objective on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Hsbc Global Res upgraded shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, DocuSign currently has an average rating of "Hold" and an average target price of $92.46.

Insiders Place Their Bets

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, March 17th. The shares were 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. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00. Following the sale, the chief financial officer now directly owns 86,156 shares of the company's stock, valued at $6,555,610.04. This represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,851 shares of company stock valued at $3,912,239. 1.01% of the stock is currently owned by insiders.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $92.42 on Monday. The firm has a market cap of $18.72 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. The firm's 50 day simple moving average is $81.19 and its 200-day simple moving average is $85.31. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign's revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. Equities research analysts predict 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.

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