DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 868,083 shares of the company's stock after selling 132,166 shares during the period. JPMorgan Chase & Co. owned 0.43% of DocuSign worth $78,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of DOCU. Kestra Investment Management LLC bought a new stake in DocuSign in the 4th quarter valued at $30,000. First Horizon Advisors Inc. boosted its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 shares during the last quarter. Modus Advisors LLC purchased a new position in DocuSign during the 4th quarter valued at approximately $36,000. Avion Wealth increased its stake in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after acquiring an additional 368 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Ratings Changes

DOCU has been the topic of a number of research reports. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Wedbush reissued a "neutral" rating and set a $100.00 target price on shares of DocuSign in a research report on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Finally, Bank of America lowered their target price on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $95.83.

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DocuSign Stock Down 6.7 %

DOCU stock traded down $5.16 during trading on Friday, hitting $72.21. 2,881,620 shares of the company's stock traded hands, compared to its average volume of 2,695,162. The firm has a market capitalization of $14.62 billion, a P/E ratio of 14.89, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a fifty day simple moving average of $86.02 and a two-hundred day simple moving average of $81.98.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 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 firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the previous year, the company posted $0.76 EPS. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter Solvik sold 10,000 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares in the company, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Chatwani sold 15,706 shares of the company's stock in a transaction that occurred on 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 approximately $6,392,485.98. This represents a 16.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,851 shares of company stock worth $4,911,319 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

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.