Evergreen Capital Management LLC Sells 14,052 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Evergreen Capital Management LLC trimmed its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,873 shares of the company's stock after selling 14,052 shares during the quarter. DocuSign makes up about 0.8% of Evergreen Capital Management LLC's portfolio, making the stock its 22nd biggest holding. Evergreen Capital Management LLC owned 0.13% of DocuSign worth $23,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MML Investors Services LLC lifted its stake in DocuSign by 60.5% in the third quarter. MML Investors Services LLC now owns 12,034 shares of the company's stock valued at $747,000 after acquiring an additional 4,538 shares during the last quarter. M&T Bank Corp increased its position in DocuSign by 5.5% during the third quarter. M&T Bank Corp now owns 10,697 shares of the company's stock worth $664,000 after buying an additional 558 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of DocuSign in the third quarter valued at approximately $2,314,000. Wilmington Savings Fund Society FSB bought a new position in shares of DocuSign during the 3rd quarter worth approximately $51,000. Finally, Optimist Retirement Group LLC increased its holdings in shares of DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company's stock worth $274,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

DocuSign Trading Down 1.3 %

DocuSign stock traded down $0.97 during mid-day trading on Friday, reaching $75.42. The company had a trading volume of 1,308,166 shares, compared to its average volume of 2,737,666. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company has a market cap of $15.27 billion, a P/E ratio of 15.55, a P/E/G ratio of 6.94 and a beta of 1.20. The business has a fifty day simple moving average of $81.35 and a 200 day simple moving average of $83.10.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating 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 the consensus estimate of $760.94 million. During the same period last year, the company earned $0.76 earnings per share. The business's quarterly revenue was up 9.0% on a year-over-year basis. Research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,851 shares of company stock valued at $4,607,439. Company insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOCU. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Thursday. Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. JMP Securities reiterated a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Thursday. Bank of America reduced 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $93.08.

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.