DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 17.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,857 shares of the company’s stock after selling 1,272 shares during the period. Citizens Financial Group Inc. RI’s holdings in DocuSign were worth $364,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DOCU. J.W. Cole Advisors Inc. increased its position in DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after buying an additional 157 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after buying an additional 172 shares during the last quarter. Dakota Wealth Management raised its position in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after buying an additional 181 shares during the period. Finally, Covestor Ltd boosted its holdings in DocuSign by 5.8% in the third quarter. Covestor Ltd now owns 3,306 shares of the company’s stock valued at $205,000 after acquiring an additional 182 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. This represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 in the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $83.03 on Friday. DocuSign, Inc. has a 12-month low of $42.13 and a 12-month high of $83.68. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 8.48 and a beta of 0.90. The firm’s fifty day moving average price is $69.47 and its 200 day moving average price is $60.25.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for 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%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. Analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DOCU has been the subject of several research analyst reports. Citigroup upped their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Bank of America raised their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus price target of $65.80.

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.