DocuSign, Inc. (NASDAQ:DOCU) Position Lessened by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 19.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,555 shares of the company’s stock after selling 1,803 shares during the quarter. iA Global Asset Management Inc.’s holdings in DocuSign were worth $679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank raised its holdings in shares of DocuSign by 30.3% during the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after acquiring an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after buying an additional 16,014 shares in the last quarter. Quantinno Capital Management LP raised its holdings in DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares in the last quarter. Rhumbline Advisers raised its holdings in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV raised its holdings in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after buying an additional 378,233 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Up 3.5 %

DOCU stock opened at $88.06 on Friday. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a market cap of $17.79 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business’s 50-day simple moving average is $87.54 and its 200 day simple moving average is $80.31.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the business earned $0.76 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Robert W. Baird set a $93.00 target price on DocuSign in a report on Friday, March 14th. HSBC restated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. Finally, Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at approximately $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the sale, the insider now directly owns 43,781 shares in the company, valued at $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock valued at $8,579,369 over the last three months. 1.66% of the stock is owned by corporate insiders.

DocuSign Company 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.