DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC cut its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,801 shares of the company’s stock after selling 634 shares during the period. Titleist Asset Management LLC’s holdings in DocuSign were worth $1,151,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares during the period. American Century Companies Inc. grew its stake in DocuSign by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after buying an additional 831,611 shares during the period. Geode Capital Management LLC increased its position in shares of DocuSign by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after acquiring an additional 249,179 shares in the last quarter. Norges Bank acquired a new stake in shares of DocuSign in the fourth quarter worth $223,196,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of DocuSign by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock valued at $208,494,000 after acquiring an additional 40,825 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Citigroup increased their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Finally, Robert W. Baird set a $93.00 target price on shares of DocuSign in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $95.83.

DocuSign Stock Performance

Shares of DOCU stock opened at $72.21 on Monday. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company’s 50-day simple moving average is $86.02 and its 200-day simple moving average is $82.35.

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 company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter last year, the business posted $0.76 EPS. DocuSign’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. This trade represents a 16.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the sale, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,851 shares of company stock valued at $4,911,319 over the last 90 days. 1.66% of the stock is owned by company 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.