Toronto Dominion Bank reduced its stake in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 4.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,149 shares of the company’s stock after selling 2,795 shares during the quarter. Toronto Dominion Bank’s holdings in DocuSign were worth $3,329,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its holdings in DocuSign by 128.3% in the 1st quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock worth $608,853,000 after buying an additional 3,193,727 shares during the period. Vanguard Group Inc. increased its holdings in DocuSign by 20.3% in the 1st quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock worth $1,854,127,000 after buying an additional 2,917,683 shares during the period. Norges Bank acquired a new position in DocuSign in the 4th quarter worth approximately $99,841,000. Renaissance Technologies LLC increased its holdings in DocuSign by 54.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,864,600 shares of the company’s stock worth $158,756,000 after buying an additional 1,014,700 shares during the period. Finally, Wellington Management Group LLP increased its holdings in DocuSign by 157.8% in the 1st quarter. Wellington Management Group LLP now owns 1,417,461 shares of the company’s stock worth $151,839,000 after buying an additional 867,717 shares during the period. 77.96% of the stock is owned by hedge funds and other institutional investors.
DocuSign Stock Performance
DocuSign stock opened at $51.67 on Friday. The company’s fifty day moving average price is $50.76 and its 200 day moving average price is $53.86. DocuSign, Inc. has a 1 year low of $39.57 and a 1 year high of $69.45. The stock has a market capitalization of $10.46 billion, a P/E ratio of -147.62, a P/E/G ratio of 9.98 and a beta of 0.91.
Wall Street Analysts Forecast Growth
DOCU has been the topic of several research reports. 22nd Century Group reiterated a “maintains” rating on shares of DocuSign in a report on Friday, June 9th. Piper Sandler increased their price target on shares of DocuSign from $60.00 to $61.00 in a report on Friday, June 9th. Wedbush raised their price objective on shares of DocuSign from $60.00 to $67.00 in a research note on Friday, June 9th. JPMorgan Chase & Co. raised their price objective on shares of DocuSign from $48.00 to $50.00 in a research note on Friday, June 9th. Finally, UBS Group dropped their price objective on shares of DocuSign from $48.00 to $44.00 and set a “sell” rating on the stock in a research note on Monday, August 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.86.
View Our Latest Stock Report on DocuSign
Insider Transactions at DocuSign
In other news, Director Enrique T. Salem sold 2,500 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $50.02, for a total transaction of $125,050.00. Following the completion of the sale, the director now owns 156,140 shares of the company’s stock, valued at $7,810,122.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Stephen Shute sold 100,315 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $49.20, for a total transaction of $4,935,498.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Enrique T. Salem sold 2,500 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $50.02, for a total transaction of $125,050.00. Following the transaction, the director now directly owns 156,140 shares in the company, valued at approximately $7,810,122.80. The disclosure for this sale can be found here. Insiders own 17.80% of the company’s stock.
DocuSign Profile
DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.
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