Legal & General Group Plc Sells 157,890 Shares of DocuSign, Inc. (NASDAQ:DOCU)

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

Several other large investors have also modified their holdings of DOCU. FMR LLC raised its holdings in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after purchasing an additional 3,908,139 shares in the last quarter. Invesco Ltd. boosted its position in DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after buying an additional 2,549,310 shares during the last quarter. Norges Bank purchased a new stake in shares of DocuSign in the 4th quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership raised its stake in shares of DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after buying an additional 1,442,639 shares during the last quarter. Finally, Amundi lifted its holdings in DocuSign by 565.8% in the fourth quarter. Amundi now owns 1,379,575 shares of the company’s stock valued at $123,486,000 after acquiring an additional 1,172,368 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In related news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares in the company, valued at $3,730,096.25. This trade represents a 14.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares of the company’s stock, valued at $6,392,485.98. This represents a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,998,719 in the last quarter. 1.66% of the stock is owned by insiders.

DocuSign Stock Down 6.8 %

Shares of NASDAQ:DOCU opened at $73.22 on Friday. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The firm’s 50 day moving average price is $83.39 and its 200 day moving average price is $82.66. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share 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 firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $70.00 to $75.00 in a report on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Robert W. Baird set a $93.00 price objective on DocuSign in a report on Friday, March 14th. Finally, Jefferies Financial Group decreased their price objective on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.83.

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.