Vinva Investment Management Ltd Sells 29,555 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Vinva Investment Management Ltd decreased its position in DocuSign, Inc. (NASDAQ:DOCU) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,705 shares of the company’s stock after selling 29,555 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.06% of DocuSign worth $10,977,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI boosted its position in shares of DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after buying an additional 133 shares during the last quarter. Rakuten Securities Inc. boosted its position in DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD boosted its position in DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp boosted its position in DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of several research reports. Wells Fargo & Company raised their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Citigroup raised their price objective on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, DocuSign presently has an average rating of “Hold” and an average price target of $95.00.

DocuSign Price Performance

NASDAQ:DOCU opened at $85.01 on Wednesday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock’s 50 day simple moving average is $87.75 and its two-hundred day simple moving average is $79.87. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (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 business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the company posted $0.76 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign 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 approximately $14,050,742. The trade was a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign 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 owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,034 shares of company stock valued at $5,932,352 in the last quarter. 1.66% of the stock is currently owned by insiders.

DocuSign 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.