Advisory Services Network LLC Lowers Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Advisory Services Network LLC cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 26.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,812 shares of the company’s stock after selling 9,774 shares during the quarter. Advisory Services Network LLC’s holdings in DocuSign were worth $2,501,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC increased its holdings in DocuSign by 13.1% during the 3rd quarter. Janus Henderson Group PLC now owns 12,110 shares of the company’s stock worth $752,000 after purchasing an additional 1,398 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of DocuSign during the third quarter valued at $350,000. EP Wealth Advisors LLC purchased a new position in shares of DocuSign during the third quarter valued at $205,000. MML Investors Services LLC raised its holdings in shares of DocuSign by 60.5% in the third quarter. MML Investors Services LLC now owns 12,034 shares of the company’s stock valued at $747,000 after acquiring an additional 4,538 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in DocuSign by 10.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 148,594 shares of the company’s stock worth $9,226,000 after acquiring an additional 13,599 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DOCU shares. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. UBS Group cut their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, Wells Fargo & Company upped their price objective on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus price target of $95.83.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,851 shares of company stock valued at $3,998,719. 1.66% of the stock is owned by company insiders.

DocuSign Stock Down 6.8 %

Shares of DocuSign stock opened at $73.22 on Friday. The company has a 50 day moving average price of $83.39 and a 200 day moving average price of $82.66. The firm has a market capitalization of $14.83 billion, a P/E ratio of 15.10, a PEG ratio of 6.94 and a beta of 1.20. 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, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. As a group, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

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.