Zacks Investment Management Has $2.90 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Zacks Investment Management raised its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 32,229 shares of the company's stock after acquiring an additional 5,824 shares during the quarter. Zacks Investment Management's holdings in DocuSign were worth $2,899,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DOCU. FMR LLC increased its holdings in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. grew its position in shares of DocuSign by 283.9% in the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock valued at $310,048,000 after buying an additional 2,549,310 shares during the last quarter. Norges Bank acquired a new stake in shares of DocuSign in the fourth quarter valued at about $223,196,000. Arrowstreet Capital Limited Partnership raised its position in shares of DocuSign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after acquiring an additional 1,442,639 shares during the last quarter. Finally, Amundi lifted its stake in shares of DocuSign by 565.8% in the fourth quarter. Amundi now owns 1,379,575 shares of the company's stock worth $123,486,000 after acquiring an additional 1,172,368 shares during the period. Institutional investors own 77.64% of the company's stock.

DocuSign Trading Down 1.3 %

DocuSign stock opened at $75.42 on Friday. The firm has a market capitalization of $15.27 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The firm's fifty day moving average price is $81.60 and its two-hundred day moving average price is $83.00. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. On average, research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DOCU. Jefferies Financial Group lowered their price target on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 31st. Robert W. Baird set a $93.00 target price on shares of DocuSign in a research note on Friday, March 14th. UBS Group cut their price target on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday. Citigroup lifted their price objective on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and upped their target price for the company from $70.00 to $75.00 in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $93.08.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction 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 sale, the director now owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is owned by insiders.

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.

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