DocuSign, Inc. (NASDAQ:DOCU) Stake Lessened by Independent Advisor Alliance

Independent Advisor Alliance decreased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 12.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,465 shares of the company’s stock after selling 611 shares during the quarter. Independent Advisor Alliance’s holdings in DocuSign were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. lifted its holdings in shares of DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after buying an additional 155 shares during the period. Resonant Capital Advisors LLC raised its position in DocuSign by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after acquiring an additional 157 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after acquiring an additional 172 shares during the last quarter. Dakota Wealth Management boosted its position in shares of DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after purchasing an additional 181 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of DocuSign by 5.8% in the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after purchasing an additional 182 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on DOCU shares. Robert W. Baird increased their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. JMP Securities raised their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Bank of America boosted their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $65.80.

Insider Buying and Selling at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock worth $4,272,768 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

Shares of DOCU opened at $80.38 on Friday. The company has a market capitalization of $16.31 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 9.05 and a beta of 0.90. The business’s 50-day moving average is $71.56 and its 200-day moving average is $60.93. DocuSign, Inc. has a fifty-two week low of $42.13 and a fifty-two week high of $86.75.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) 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 company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

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.