Independent Advisor Alliance Decreases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Independent Advisor Alliance cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,465 shares of the company’s stock after selling 611 shares during the quarter. Independent Advisor Alliance’s holdings in DocuSign were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Inspire Investing LLC purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $911,000. Comerica Bank raised its stake in shares of DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after purchasing an additional 20,110 shares during the period. International Assets Investment Management LLC lifted its position in shares of DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after purchasing an additional 85,987 shares during the period. Finally, Carrera Capital Advisors acquired a new stake in DocuSign during the 3rd quarter valued at $666,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Royal Bank of Canada increased their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report 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 note on Friday, September 6th. Finally, JMP Securities lifted their price target on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.80.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $80.38 on Friday. The company’s fifty day moving average is $71.56 and its two-hundred day moving average is $60.93. DocuSign, Inc. has a 1-year low of $42.13 and a 1-year high of $86.75. The stock has a market capitalization of $16.31 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock worth $4,272,768 in the last 90 days. 1.66% of the stock is currently owned by company insiders.

DocuSign 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.