Meridian Investment Counsel Inc. Sells 526 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Meridian Investment Counsel Inc. trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,174 shares of the company’s stock after selling 526 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in DocuSign were worth $2,624,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DOCU. Toronto Dominion Bank boosted its holdings in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after buying an additional 6,081 shares during the period. Quantinno Capital Management LP boosted its holdings in DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares during the period. Rhumbline Advisers grew its position in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after purchasing an additional 330,136 shares during the last quarter. KBC Group NV increased its stake in shares of DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of DocuSign during the 4th quarter worth about $12,897,000. 77.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is currently owned by insiders.

DocuSign Price Performance

DOCU opened at $83.18 on Monday. The company’s 50 day simple moving average is $87.18 and its 200-day simple moving average is $81.54. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a market capitalization of $16.84 billion, a P/E ratio of 17.15, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $760.94 million. During the same period last year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. Jefferies Financial Group boosted their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup boosted their price target on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, UBS Group decreased their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $95.00.

DocuSign Company 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.