Vanguard Group Inc. Has $1.95 Billion Stake in DocuSign, Inc. (NASDAQ:DOCU)

Vanguard Group Inc. reduced its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,729,878 shares of the company's stock after selling 145,952 shares during the period. Vanguard Group Inc. owned about 10.76% of DocuSign worth $1,954,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank lifted its stake in shares of DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company's stock valued at $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company's stock worth $82,478,000 after buying an additional 16,014 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company's stock worth $12,514,000 after acquiring an additional 57,104 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after acquiring an additional 330,136 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company's stock valued at $138,067,000 after acquiring an additional 378,233 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company's stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,851 shares of company stock worth $8,579,369. Corporate insiders own 1.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DOCU shares. Bank of America decreased their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Jefferies Financial Group cut their target price on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Monday. Finally, HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $95.83.

DocuSign Stock Down 2.1 %

Shares of DOCU stock traded down $1.78 during mid-day trading on Monday, reaching $81.40. The stock had a trading volume of 2,661,102 shares, compared to its average volume of 2,689,183. The firm has a market cap of $16.48 billion, a PE ratio of 16.78, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm's 50 day simple moving average is $87.01 and its 200 day simple moving average is $81.71.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its 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 analysts' expectations of $760.94 million. During the same period last year, the business earned $0.76 earnings per share. DocuSign's quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

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.