Gulf International Bank UK Ltd Lowers Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Gulf International Bank UK Ltd lowered its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,967 shares of the company’s stock after selling 972 shares during the quarter. Gulf International Bank UK Ltd’s holdings in DocuSign were worth $991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its stake in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Mather Group LLC. lifted its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of DocuSign during the third quarter worth $47,000. nVerses Capital LLC purchased a new position in DocuSign during the second quarter valued at $48,000. Finally, Quarry LP bought a new stake in DocuSign in the 2nd quarter valued at $53,000. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 3.8 %

NASDAQ DOCU opened at $79.38 on Friday. DocuSign, Inc. has a 52 week low of $39.65 and a 52 week high of $79.50. The firm has a market capitalization of $16.11 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 7.39 and a beta of 0.90. The company has a fifty day moving average of $64.76 and a two-hundred day moving average of $58.65.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on DOCU. Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Citigroup raised their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.40.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares in the company, valued at $7,542,358.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is currently owned by insiders.

About DocuSign

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.