DocuSign, Inc. (NASDAQ:DOCU) Position Trimmed by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 36.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 391,460 shares of the company's stock after selling 227,452 shares during the quarter. Citigroup Inc. owned 0.19% of DocuSign worth $24,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its stake in DocuSign by 9.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,165 shares of the company's stock valued at $427,000 after acquiring an additional 593 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in shares of DocuSign by 6.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company's stock worth $236,000 after purchasing an additional 224 shares in the last quarter. Comerica Bank raised its position in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company's stock worth $1,721,000 after purchasing an additional 20,110 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in DocuSign by 112.1% in the 1st quarter. iA Global Asset Management Inc. now owns 9,494 shares of the company's stock valued at $565,000 after buying an additional 5,018 shares in the last quarter. Finally, Plato Investment Management Ltd grew its holdings in DocuSign by 1,113.7% during the 1st quarter. Plato Investment Management Ltd now owns 21,858 shares of the company's stock valued at $1,302,000 after buying an additional 20,057 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DOCU shares. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Wells Fargo & Company raised their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an "underweight" rating in a research report on Friday, September 6th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research note on Friday, September 6th. JMP Securities lifted their price objective on DocuSign from $84.00 to $108.00 and gave the company a "market outperform" rating in a research report on Friday, November 22nd. Finally, Citigroup increased their target price on DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.80.

DocuSign Stock Performance

Shares of NASDAQ:DOCU traded down $3.38 during trading on Wednesday, reaching $81.92. 435,399 shares of the stock were exchanged, compared to its average volume of 2,867,433. DocuSign, Inc. has a 12-month low of $42.13 and a 12-month high of $86.75. The firm's 50-day moving average price is $70.63 and its 200 day moving average price is $60.66. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter last year, the firm posted $0.09 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current year.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock valued at $4,272,768 over the last quarter. Company insiders own 1.66% of the company's stock.

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.