Dakota Wealth Management Cuts Stake in DocuSign, Inc. (NASDAQ:DOCU)

Dakota Wealth Management trimmed its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,061 shares of the company’s stock after selling 961 shares during the quarter. Dakota Wealth Management’s holdings in DocuSign were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in DOCU. Inspire Investing LLC purchased a new position in shares of DocuSign during the third quarter valued at approximately $911,000. Comerica Bank boosted its holdings in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after acquiring an additional 20,110 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in DocuSign in the first quarter worth approximately $8,700,000. PGGM Investments grew its holdings in shares of DocuSign by 36.7% in the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after acquiring an additional 13,379 shares during the period. Finally, Claro Advisors LLC bought a new stake in shares of DocuSign during the 3rd quarter valued at about $727,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOCU has been the subject of a number of analyst reports. Robert W. Baird increased their price objective on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Royal Bank of Canada raised their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Citigroup upped their price target on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus price target of $63.40.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the sale, the chief executive officer now owns 109,918 shares in the company, valued at $6,033,399.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel D. Springer sold 287,052 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the sale, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at approximately $6,033,399.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,554 shares of company stock valued at $23,129,150. Company insiders own 1.66% of the company’s stock.

DocuSign Price Performance

DOCU opened at $68.99 on Friday. The firm has a market capitalization of $14.12 billion, a PE ratio of 132.67, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92. The business’s 50-day moving average is $61.87 and its two-hundred day moving average is $57.66. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $73.80.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating 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%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. As a group, sell-side analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

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.