Mitchell & Pahl Private Wealth LLC Lowers Position in DocuSign, Inc. (NASDAQ:DOCU)

Mitchell & Pahl Private Wealth LLC decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 20,717 shares of the company’s stock after selling 238 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in DocuSign were worth $1,686,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DOCU. FMR LLC increased its holdings in DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after buying an additional 3,908,139 shares during the period. Invesco Ltd. boosted its position in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after acquiring an additional 2,549,310 shares in the last quarter. Norges Bank purchased a new position in shares of DocuSign in the 4th quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of DocuSign by 201.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after acquiring an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its position in shares of DocuSign by 34.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after acquiring an additional 1,205,500 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU opened at $87.75 on Monday. The stock has a 50-day moving average of $81.62 and a two-hundred day moving average of $85.99. The stock has a market cap of $17.77 billion, a P/E ratio of 18.09, a P/E/G ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. Analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s 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 transaction, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock valued at $3,912,239 in the last ninety days. Insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DOCU shares. Jefferies Financial Group dropped their price objective on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Thursday, April 17th. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Hsbc Global Res upgraded shares of DocuSign from a “moderate sell” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Bank of America lowered their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. One equities 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.46.

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.