Russell Investments Group Ltd. Has $10.71 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Russell Investments Group Ltd. lowered its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 95.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,836 shares of the company’s stock after selling 3,429,230 shares during the period. Russell Investments Group Ltd. owned about 0.09% of DocuSign worth $10,706,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Schwarz Dygos Wheeler Investment Advisors LLC bought a new stake in shares of DocuSign in the 4th quarter valued at about $396,000. Motley Fool Asset Management LLC bought a new stake in shares of DocuSign in the 4th quarter valued at about $222,000. Syon Capital LLC grew its position in shares of DocuSign by 450.2% in the 4th quarter. Syon Capital LLC now owns 550,221 shares of the company’s stock valued at $32,711,000 after buying an additional 450,221 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of DocuSign by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after purchasing an additional 184 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of DocuSign by 2.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,177 shares of the company’s stock valued at $664,000 after purchasing an additional 318 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 499 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now directly owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other DocuSign news, Director Teresa Briggs sold 499 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the transaction, the director now directly owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,765 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.31, for a total value of $413,952.15. Following the transaction, the chief executive officer now directly owns 104,002 shares of the company’s stock, valued at $5,544,346.62. The disclosure for this sale can be found here. Insiders sold a total of 55,277 shares of company stock valued at $3,159,756 over the last ninety days. 17.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DOCU has been the topic of several research analyst reports. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and upped their target price for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a research report on Friday, April 12th. Finally, Wells Fargo & Company cut their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average price target of $60.25.

DocuSign Stock Up 1.8 %

Shares of DocuSign stock opened at $59.80 on Monday. The company has a market cap of $12.28 billion, a PE ratio of 166.11, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The business has a 50 day moving average price of $57.24 and a 200-day moving average price of $53.38.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. The firm had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, research analysts anticipate that DocuSign, Inc. will post 0.87 EPS for the current year.

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.