Man Group plc Sells 216,937 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Man Group plc cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 54.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 184,204 shares of the company’s stock after selling 216,937 shares during the period. Man Group plc’s holdings in DocuSign were worth $16,567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DOCU. Rhumbline Advisers increased its stake in 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 purchasing an additional 330,136 shares in the last quarter. KBC Group NV increased its stake in DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares in the last quarter. Jennison Associates LLC bought a new stake in DocuSign during the 4th quarter worth approximately $12,897,000. Principal Financial Group Inc. increased its stake in DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after purchasing an additional 529,308 shares in the last quarter. Finally, Amundi increased its stake in DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock worth $123,486,000 after purchasing an additional 1,172,368 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 of the company’s stock, valued at approximately $722,880.70. This represents a 6.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at $7,817,472. This represents a 14.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,851 shares of company stock valued at $3,912,239. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Wedbush reissued a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. William Blair reissued an “outperform” rating on shares of DocuSign in a research note on Monday, April 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.46.

DocuSign Stock Up 2.1%

Shares of DOCU opened at $92.42 on Friday. The stock has a market capitalization of $18.72 billion, a P/E ratio of 19.06, a P/E/G ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a 50 day moving average of $81.19 and a 200-day moving average of $85.09.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, sell-side analysts anticipate 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.