PNC Financial Services Group Inc. lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 21.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,532 shares of the company’s stock after selling 1,809 shares during the period. PNC Financial Services Group Inc.’s holdings in DocuSign were worth $587,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of DOCU. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign in the 3rd quarter valued at about $28,000. Kestra Investment Management LLC purchased a new stake in shares of DocuSign in the 4th quarter valued at about $30,000. Brooklyn Investment Group purchased a new position in shares of DocuSign during the 3rd quarter valued at about $33,000. Modus Advisors LLC purchased a new position in shares of DocuSign during the 4th quarter valued at about $36,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.
Analyst Ratings Changes
DOCU has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Piper Sandler raised their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup raised their price objective on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 14th. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, Bank of America decreased their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.00.
View Our Latest Analysis on DOCU
DocuSign Stock Performance
Shares of DOCU stock opened at $85.01 on Wednesday. The firm has a market cap of $17.17 billion, a P/E ratio of 17.53, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The business’s 50 day moving average price is $87.75 and its 200-day moving average price is $79.87.
DocuSign (NASDAQ:DOCU – Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. As a group, equities analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.
Insider Transactions at DocuSign
In other news, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,034 shares of company stock worth $5,932,352. 1.66% of the stock is currently owned by insiders.
About DocuSign
(Free Report)
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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