Select Equity Group L.P. Decreases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Select Equity Group L.P. lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 13.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 330,678 shares of the company's stock after selling 52,006 shares during the period. Select Equity Group L.P. owned approximately 0.16% of DocuSign worth $29,741,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DOCU. Kestra Investment Management LLC bought a new stake in DocuSign in the 4th quarter valued at about $30,000. First Horizon Advisors Inc. boosted its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the period. Bessemer Group Inc. boosted its holdings in DocuSign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares during the period. Avion Wealth boosted its holdings in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after purchasing an additional 368 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after purchasing an additional 145 shares during the period. Institutional investors own 77.64% of the company's stock.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This represents a 16.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the sale, the chief financial officer now owns 93,960 shares of the company's stock, valued at approximately $7,817,472. This represents a 14.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,851 shares of company stock worth $3,912,239. Insiders own 1.01% of the company's stock.

DocuSign Trading Up 1.5%

NASDAQ DOCU traded up $1.28 on Thursday, hitting $86.71. 618,855 shares of the company were exchanged, compared to its average volume of 2,756,548. The company has a market cap of $17.56 billion, a PE ratio of 17.83, a PEG ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a fifty day moving average of $81.71 and a 200-day moving average of $85.48.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its 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 net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period in the prior year, the firm earned $0.76 earnings per share. DocuSign's revenue was up 9.0% on a year-over-year basis. On average, analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DOCU. Hsbc Global Res upgraded shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Bank of America dropped their target price on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. Finally, Wells Fargo & Company dropped their target price on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $92.46.

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.