Ceera Investments LLC Sells 12,280 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Ceera Investments LLC trimmed its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,029 shares of the company's stock after selling 12,280 shares during the period. DocuSign makes up about 1.7% of Ceera Investments LLC's portfolio, making the stock its 21st biggest position. Ceera Investments LLC's holdings in DocuSign were worth $3,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of DOCU. New York State Teachers Retirement System boosted its position in shares of DocuSign by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company's stock valued at $1,087,000 after buying an additional 163 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in DocuSign by 2.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company's stock valued at $415,000 after acquiring an additional 184 shares during the last quarter. Whittier Trust Co. increased its stake in DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company's stock worth $56,000 after purchasing an additional 209 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of DocuSign by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company's stock worth $4,617,000 after purchasing an additional 239 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in shares of DocuSign by 2.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 11,087 shares of the company's stock worth $606,000 after purchasing an additional 243 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 499 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now directly owns 6,169 shares in the company, valued at $326,895.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Allan C. Thygesen sold 7,765 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 104,002 shares of the company's stock, valued at approximately $5,544,346.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the sale, the director now directly owns 6,169 shares of the company's stock, valued at approximately $326,895.31. The disclosure for this sale can be found here. Insiders have sold a total of 55,277 shares of company stock worth $3,159,756 in the last ninety days. 1.66% of the stock is owned by insiders.

DocuSign Stock Up 2.3 %

Shares of DocuSign stock traded up $1.40 on Wednesday, reaching $61.13. The stock had a trading volume of 1,390,745 shares, compared to its average volume of 2,987,219. The stock has a market capitalization of $12.56 billion, a P/E ratio of 169.81, a P/E/G ratio of 5.16 and a beta of 0.88. The company has a 50 day moving average price of $58.04 and a 200 day moving average price of $54.30. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. On average, analysts forecast that DocuSign, Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley raised shares of DocuSign from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities reaffirmed a "market outperform" rating and set a $84.00 price target on shares of DocuSign in a research note on Friday, April 12th. Wells Fargo & Company dropped their price objective on DocuSign from $55.00 to $45.00 and set an "underweight" rating on the stock in a research note on Monday, February 5th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $59.00 target price on shares of DocuSign in a research report on Friday, April 12th. Finally, Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $60.25.

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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