Legal & General Group Plc Has $115.14 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Legal & General Group Plc lowered its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,280,216 shares of the company's stock after selling 157,890 shares during the quarter. Legal & General Group Plc owned about 0.63% of DocuSign worth $115,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI raised its position in DocuSign by 2.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock worth $539,000 after acquiring an additional 133 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD raised its holdings in shares of DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after purchasing an additional 140 shares in the last quarter. M&T Bank Corp lifted its stake in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after purchasing an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after buying an additional 145 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on DOCU shares. Wedbush reaffirmed a "neutral" rating and issued a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Jefferies Financial Group cut their target price on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. William Blair upgraded DocuSign from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Wells Fargo & Company raised their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $93.85.

Insider Transactions at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company's 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 approximately $3,730,096.25. This represents a 14.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,851 shares of company stock valued at $3,998,719. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Performance

Shares of DocuSign stock traded up $0.47 during midday trading on Wednesday, reaching $77.96. 630,051 shares of the company's stock traded hands, compared to its average volume of 2,719,331. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company's 50 day simple moving average is $82.19 and its 200 day simple moving average is $82.95.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the company posted $0.76 EPS. The firm's revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current 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.