Docusign Inc. $DOCU Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC trimmed its position in shares of Docusign Inc. (NASDAQ:DOCU) by 41.8% during the third quarter, Holdings Channel.com reports. The firm owned 12,159 shares of the company’s stock after selling 8,747 shares during the period. Gagnon Securities LLC’s holdings in Docusign were worth $816,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DOCU. BlackRock Inc. acquired a new stake in Docusign in the 2nd quarter valued at $927,059,000. Arrowstreet Capital Limited Partnership raised its holdings in Docusign by 76.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after buying an additional 2,283,996 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Docusign during the second quarter worth $56,219,000. Man Group plc bought a new position in shares of Docusign in the second quarter valued at $52,714,000. Finally, Bank of America Corp DE bought a new position in shares of Docusign in the second quarter valued at $46,178,000. 77.64% of the stock is currently owned by institutional investors.

Insider Activity at Docusign

In related news, CEO Allan Thygesen sold 26,250 shares of Docusign stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the sale, the chief executive officer directly owned 166,801 shares in the company, valued at approximately $11,557,641.29. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Wilderotter sold 1,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $68.80, for a total value of $68,800.00. Following the completion of the transaction, the director directly owned 2,199 shares in the company, valued at approximately $151,291.20. This represents a 31.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 154,168 shares of company stock valued at $10,491,896 in the last ninety days. Insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DOCU shares. Royal Bank Of Canada lifted their price objective on shares of Docusign from $55.00 to $70.00 and gave the company a “sector perform” rating in a report on Friday, September 4th. Citizens Jmp restated a “market outperform” rating and issued a $86.00 target price on shares of Docusign in a report on Friday, September 4th. Piper Sandler upped their target price on shares of Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Yorkville Ives started coverage on shares of Docusign in a research report on Monday, October 5th. They issued an “in-line” rating and a $72.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on Docusign from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.62.

Docusign Stock Performance

NASDAQ:DOCU opened at $80.15 on Thursday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $85.90. The firm has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $55.56. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 48.87, a price-to-earnings-growth ratio of 2.86 and a beta of 0.80.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Docusign had a return on equity of 18.29% and a net margin of 9.82%. The firm had revenue of $875.75 million for the quarter, compared to the consensus estimate of $867.22 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Docusign Inc. will post 2.15 earnings per share for the current year.

Docusign Profile

DocuSign, Inc. provides software for preparing, signing, managing and automating agreements. Its platform helps businesses and individuals complete agreements digitally, reducing reliance on paper-based processes. The company’s offerings include DocuSign eSignature, which enables users to sign and request signatures electronically, as well as tools for contract lifecycle management and agreement workflows. Its Intelligent Agreement Management products use artificial intelligence to help organizations analyze and manage agreement-related information and processes.