Citizens Financial Group Inc. RI Boosts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Citizens Financial Group Inc. RI increased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 21.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,129 shares of the company’s stock after buying an additional 1,278 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in DocuSign were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV grew its stake in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares during the last quarter. Mather Group LLC. boosted its stake in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in DocuSign during the 1st quarter worth approximately $37,000. ICA Group Wealth Management LLC acquired a new position in DocuSign during the 4th quarter valued at approximately $39,000. Finally, nVerses Capital LLC purchased a new position in shares of DocuSign in the second quarter worth $48,000. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Performance

Shares of DocuSign stock opened at $56.64 on Thursday. The firm has a 50-day simple moving average of $55.76 and a two-hundred day simple moving average of $56.13. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The company has a market cap of $11.60 billion, a P/E ratio of 108.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. Equities research analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOCU shares. Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Bank of America increased their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Robert W. Baird lifted their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Morgan Stanley cut their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Finally, Piper Sandler reduced their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.45.

Insider Transactions at DocuSign

In related news, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the sale, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the transaction, the director now directly owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The disclosure for this sale can be found here. Insiders sold a total of 460,864 shares of company stock valued at $24,549,227 in the last three months. 1.66% of the stock is currently 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.