Farther Finance Advisors LLC Decreases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Farther Finance Advisors LLC cut its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 64.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,515 shares of the company’s stock after selling 2,805 shares during the period. Farther Finance Advisors LLC’s holdings in DocuSign were worth $136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank boosted its position in shares of DocuSign by 30.3% in 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares in the last quarter. Quantinno Capital Management LP raised its stake in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after purchasing an additional 57,104 shares during the last quarter. Rhumbline Advisers raised its stake in DocuSign by 118.8% in the 4th 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. Finally, KBC Group NV raised its stake in DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after purchasing an additional 378,233 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’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 value of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,851 shares of company stock valued at $8,579,369. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Down 0.6 %

DocuSign stock opened at $85.11 on Friday. The stock has a market cap of $17.19 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The stock has a 50 day moving average of $87.58 and a 200-day moving average of $79.95. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. As a group, equities analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DOCU. UBS Group dropped their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Piper Sandler upped their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Bank of America dropped their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Wells Fargo & Company upped their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $95.00.

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.