Versor Investments LP Cuts Position in DocuSign, Inc. (NASDAQ:DOCU)

Versor Investments LP reduced its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 40.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,302 shares of the company’s stock after selling 10,300 shares during the period. Versor Investments LP’s holdings in DocuSign were worth $950,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DOCU. Jericho Capital Asset Management L.P. raised its holdings in shares of DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after acquiring an additional 2,597,489 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in DocuSign in the 2nd quarter valued at $115,795,000. Pacer Advisors Inc. lifted its holdings in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. Renaissance Technologies LLC boosted its stake in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after purchasing an additional 576,414 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after buying an additional 521,292 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Up 1.5 %

Shares of DOCU opened at $82.47 on Wednesday. DocuSign, Inc. has a fifty-two week low of $40.64 and a fifty-two week high of $82.97. The company has a market cap of $16.74 billion, a P/E ratio of 17.40, a PEG ratio of 8.40 and a beta of 0.90. The firm’s 50 day moving average price is $65.20 and its 200 day moving average price is $58.85.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. Research analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the business’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 completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were 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 in the company, valued at approximately $3,923,684.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,558 shares of company stock worth $4,272,768. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOCU. Wells Fargo & Company upped their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Citigroup boosted their price target on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada raised their price objective on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.