RBF Capital LLC Sells 67,000 Shares of DocuSign, Inc. (NASDAQ:DOCU)

RBF Capital LLC cut its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 55.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,000 shares of the company's stock after selling 67,000 shares during the period. RBF Capital LLC's holdings in DocuSign were worth $4,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DOCU. Kestra Investment Management LLC bought a new position in DocuSign in the 4th quarter worth approximately $30,000. Modus Advisors LLC bought a new position in shares of DocuSign during the fourth quarter worth $36,000. First Horizon Advisors Inc. boosted its position in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Bessemer Group Inc. grew its stake in DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after acquiring an additional 392 shares in the last quarter. Finally, Avion Wealth increased 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 acquiring an additional 368 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on DOCU. Wells Fargo & Company dropped their price objective on shares of DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a report on Tuesday. UBS Group dropped their price target on DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and increased their target price for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Finally, Bank of America cut 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $92.46.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction 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 trade represents a 16.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the transaction, the chief financial officer now owns 86,156 shares in the company, valued at $6,555,610.04. This represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock worth $4,607,439 in the last quarter. 1.66% of the stock is owned by company insiders.

DocuSign Trading Up 3.2 %

Shares of DOCU opened at $74.20 on Wednesday. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company's fifty day simple moving average is $80.73 and its 200-day simple moving average is $83.38. The company has a market cap of $15.02 billion, a P/E ratio of 15.30, a P/E/G ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DocuSign, Inc. (NASDAQ:DOCU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.