Prudential Financial Inc. Has $3.35 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Prudential Financial Inc. decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 54.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 37,285 shares of the company’s stock after selling 44,320 shares during the period. Prudential Financial Inc.’s holdings in DocuSign were worth $3,353,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in DocuSign in the third quarter valued at about $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $30,000. Modus Advisors LLC bought a new position in DocuSign during the 4th quarter worth approximately $36,000. First Horizon Advisors Inc. grew its holdings in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares during the period. Finally, Avion Wealth increased its stake in DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at approximately $7,817,472. This represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares of the company’s stock, 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. In the last 90 days, insiders sold 57,851 shares of company stock valued at $4,911,319. 1.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Piper Sandler raised their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group decreased their price objective on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wedbush restated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.83.

DocuSign Trading Up 0.9 %

Shares of DOCU stock opened at $83.40 on Thursday. The firm’s fifty day moving average price is $86.67 and its two-hundred day moving average price is $81.91. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market capitalization of $16.89 billion, a P/E ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The business 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%. DocuSign’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. As a group, equities research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

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.