Russell Investments Group Ltd. Sells 106,377 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Russell Investments Group Ltd. trimmed its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 43.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,823 shares of the company's stock after selling 106,377 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of DocuSign worth $12,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in DOCU. Kestra Investment Management LLC acquired a new position in DocuSign in the fourth quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its holdings in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after buying an additional 201 shares during the period. Modus Advisors LLC purchased a new position in shares of DocuSign in the fourth quarter worth approximately $36,000. Avion Wealth increased its position in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after acquiring an additional 368 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after acquiring an additional 145 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In related news, insider James P. Shaughnessy sold 7,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock worth $3,998,719 over the last 90 days. Insiders own 1.66% of the company's stock.

DocuSign Price Performance

Shares of DOCU stock traded up $0.69 on Wednesday, hitting $78.18. The company's stock had a trading volume of 555,671 shares, compared to its average volume of 2,456,946. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm's fifty day moving average price is $82.19 and its 200-day moving average price 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. Analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

DOCU has been the topic of several research analyst reports. Bank of America lowered their price objective on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Wedbush reiterated a "neutral" rating and set a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company increased their price target on shares of DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. One equities 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $93.85.

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.