DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 868,083 shares of the company's stock after selling 132,166 shares during the period. JPMorgan Chase & Co. owned approximately 0.43% of DocuSign worth $78,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in DocuSign by 2.4% during the third quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company's stock valued at $3,322,000 after buying an additional 1,248 shares during the period. Townsquare Capital LLC lifted its position in DocuSign by 3.7% during the 3rd quarter. Townsquare Capital LLC now owns 5,103 shares of the company's stock valued at $317,000 after acquiring an additional 183 shares during the period. Captrust Financial Advisors boosted its stake in DocuSign by 92.3% during the third quarter. Captrust Financial Advisors now owns 38,587 shares of the company's stock worth $2,396,000 after acquiring an additional 18,518 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in DocuSign in the third quarter worth about $1,190,000. Finally, Janus Henderson Group PLC increased its stake in shares of DocuSign by 13.1% during the third quarter. Janus Henderson Group PLC now owns 12,110 shares of the company's stock valued at $752,000 after purchasing an additional 1,398 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Activity

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares in the company, valued at $3,730,096.25. This represents a 14.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,851 shares of company stock valued at $4,911,319. 1.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and raised their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. JMP Securities reissued a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Wedbush restated a "neutral" rating and set a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Finally, Jefferies Financial Group dropped their target price on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $95.83.

DocuSign Stock Down 2.2 %

NASDAQ:DOCU traded down $1.60 during mid-day trading on Tuesday, hitting $70.35. 2,804,617 shares of the company traded hands, compared to its average volume of 2,711,997. The stock's fifty day moving average price is $84.56 and its 200-day moving average price is $82.45. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. 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 announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share. Equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

DocuSign 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.