DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its position in DocuSign, Inc. (NASDAQ:DOCU) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 22,061 shares of the company’s stock after selling 961 shares during the quarter. Dakota Wealth Management’s holdings in DocuSign were worth $1,370,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Mather Group LLC. lifted its stake in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC acquired a new position in DocuSign during the first quarter worth about $37,000. nVerses Capital LLC purchased a new stake in DocuSign during the 2nd quarter valued at about $48,000. Finally, Quarry LP purchased a new stake in DocuSign during the 2nd quarter valued at about $53,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the sale, the chief financial officer now directly owns 78,265 shares in the company, valued at $5,384,632. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 427,554 shares of company stock valued at $23,129,150 over the last quarter. 1.66% of the stock is owned by company insiders.

DocuSign Trading Down 2.3 %

Shares of NASDAQ:DOCU opened at $68.99 on Friday. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 132.67, a PEG ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $73.80. The business has a 50-day moving average price of $61.87 and a 200 day moving average price of $57.66.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Bank of America boosted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, 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.