DocuSign, Inc. (NASDAQ:DOCU) Stock Position Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 60.3% in the third quarter, Holdings Channel.com reports. The fund owned 245,215 shares of the company’s stock after selling 372,903 shares during the period. Assenagon Asset Management S.A.’s holdings in DocuSign were worth $15,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Resonant Capital Advisors LLC increased its stake in DocuSign by 0.9% during the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after purchasing an additional 157 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after buying an additional 172 shares during the last quarter. Dakota Wealth Management raised its stake in DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after acquiring an additional 181 shares during the period. Sovereign Financial Group Inc. lifted its holdings in DocuSign by 4.3% in the third quarter. Sovereign Financial Group Inc. now owns 4,487 shares of the company’s stock worth $279,000 after acquiring an additional 184 shares during the last quarter. Finally, DMC Group LLC boosted its stake in DocuSign by 4.6% in the third quarter. DMC Group LLC now owns 4,561 shares of the company’s stock valued at $283,000 after acquiring an additional 201 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total value of $424,025.25. Following the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,923,684.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 427,554 shares of company stock valued at $23,129,150. 1.66% of the stock is owned by insiders.

DocuSign Price Performance

NASDAQ DOCU opened at $68.99 on Friday. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $73.80. The firm has a market capitalization of $14.12 billion, a PE ratio of 132.67, a P/E/G ratio of 7.33 and a beta of 0.92. The company’s 50 day simple moving average is $61.87 and its 200 day simple moving average is $57.66.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data 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 return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign 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 given a buy rating to the company’s stock. According to MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus target price of $63.40.

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.