Russell Investments Group Ltd. Trims Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Russell Investments Group Ltd. reduced its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 95.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 179,836 shares of the company's stock after selling 3,429,230 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of DocuSign worth $10,706,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Capital Analysts LLC increased its stake in DocuSign by 781.7% during the 4th quarter. Capital Analysts LLC now owns 529 shares of the company's stock worth $31,000 after acquiring an additional 469 shares during the period. BluePath Capital Management LLC acquired a new position in DocuSign in the third quarter valued at about $32,000. McGlone Suttner Wealth Management Inc. bought a new stake in DocuSign during the fourth quarter worth about $32,000. Performa Ltd US LLC grew its stake in DocuSign by 50.0% during the third quarter. Performa Ltd US LLC now owns 825 shares of the company's stock worth $35,000 after buying an additional 275 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company's stock valued at $56,000 after buying an additional 209 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOCU has been the topic of several analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, April 12th. Wells Fargo & Company reduced their target price on DocuSign from $55.00 to $45.00 and set an "underweight" rating on the stock in a report on Monday, February 5th. Royal Bank of Canada restated a "sector perform" rating and set a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley upgraded DocuSign from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Finally, JMP Securities reissued a "market outperform" rating and issued a $84.00 target price on shares of DocuSign in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $60.25.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,765 shares of DocuSign stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.31, for a total value of $413,952.15. Following the completion of the sale, the chief executive officer now directly owns 104,002 shares in the company, valued at $5,544,346.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Stephen Shute sold 15,109 shares of the firm's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now directly owns 8,959 shares in the company, valued at approximately $510,842.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,765 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.31, for a total value of $413,952.15. Following the completion of the sale, the chief executive officer now directly owns 104,002 shares of the company's stock, valued at $5,544,346.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,277 shares of company stock worth $3,159,756. Company insiders own 1.66% of the company's stock.

DocuSign Stock Down 0.5 %

NASDAQ DOCU traded down $0.30 on Monday, hitting $59.50. The company's stock had a trading volume of 1,368,030 shares, compared to its average volume of 3,118,121. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The firm has a market cap of $12.22 billion, a PE ratio of 165.28, a PEG ratio of 5.17 and a beta of 0.88. The company's 50-day moving average is $57.39 and its 200 day moving average is $53.51.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The firm had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. On average, equities analysts expect that DocuSign, Inc. will post 0.87 EPS 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.