First Trust Advisors LP Increases Stake in DocuSign, Inc. (NASDAQ:DOCU)

First Trust Advisors LP raised its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,324,689 shares of the company's stock after acquiring an additional 319,956 shares during the period. First Trust Advisors LP owned approximately 0.66% of DocuSign worth $119,142,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. FMR LLC boosted its stake in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after buying an additional 3,908,139 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of DocuSign by 283.9% in the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after acquiring an additional 2,549,310 shares during the last quarter. Norges Bank purchased a new stake in shares of DocuSign in the 4th quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock valued at $194,118,000 after purchasing an additional 1,442,639 shares during the last quarter. Finally, Amundi grew its holdings in shares of DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company's stock valued at $123,486,000 after purchasing an additional 1,172,368 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now owns 76,842 shares of the company's stock, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares of the company's stock, valued at approximately $7,817,472. This represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research report on Friday, March 14th. Morgan Stanley decreased their target price 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. Bank of America lowered their price objective on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research note on Thursday, April 17th. Finally, Wedbush reaffirmed a "neutral" rating and set a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, DocuSign currently has an average rating of "Hold" and a consensus price target of $92.46.

DocuSign Trading Up 1.4 %

DOCU traded up $1.14 during midday trading on Friday, reaching $82.81. The company's stock had a trading volume of 1,051,319 shares, compared to its average volume of 2,741,011. The stock's 50-day moving average is $80.34 and its 200-day moving average is $83.58. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 17.07, a PEG 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. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. As a group, equities research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

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.