DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its position in DocuSign, Inc. (NASDAQ:DOCU) by 36.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 391,460 shares of the company’s stock after selling 227,452 shares during the period. Citigroup Inc. owned approximately 0.19% of DocuSign worth $24,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC boosted its holdings in shares of 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 boosted its holdings in DocuSign by 6.0% in the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock valued at $236,000 after purchasing an additional 224 shares during the last quarter. Comerica Bank grew its position in 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 period. iA Global Asset Management Inc. grew its position in DocuSign by 112.1% during the 1st quarter. iA Global Asset Management Inc. now owns 9,494 shares of the company’s stock worth $565,000 after purchasing an additional 5,018 shares during the period. Finally, Plato Investment Management Ltd raised its stake in shares of 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. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 0.2 %

DOCU stock opened at $85.30 on Wednesday. DocuSign, Inc. has a 52 week low of $42.13 and a 52 week high of $86.75. The firm has a 50-day simple moving average of $70.63 and a 200-day simple moving average of $60.66. The stock has a market capitalization of $17.31 billion, a P/E ratio of 18.00, a P/E/G ratio of 8.79 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. On average, analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Citigroup upped their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Bank of America lifted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JMP Securities increased their price target on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada lifted their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average target price of $65.80.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total transaction of $778,576.92. Following the transaction, the chief financial officer now owns 87,611 shares in the company, valued at approximately $4,859,782.17. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,558 shares of company stock valued at $4,272,768. 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.