Point72 Hong Kong Ltd reduced its position in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 46.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,996 shares of the company’s stock after selling 14,578 shares during the quarter. Point72 Hong Kong Ltd’s holdings in DocuSign were worth $1,055,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of DOCU. Massmutual Trust Co. FSB ADV lifted its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares during the period. Mather Group LLC. lifted its stake in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the period. Brooklyn Investment Group acquired a new stake in DocuSign during the third quarter valued at approximately $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at approximately $47,000. Finally, nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 77.64% of the company’s stock.
Insiders Place Their Bets
In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now owns 87,611 shares in the company, valued at $4,859,782.17. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,558 shares of company stock worth $4,272,768. Company insiders own 1.66% of the company’s stock.
DocuSign Trading Down 0.9 %
DocuSign (NASDAQ:DOCU – Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. Research analysts forecast that DocuSign, Inc. will post 1.03 EPS for the current year.
Analyst Ratings Changes
A number of analysts have weighed in on DOCU shares. Royal Bank of Canada upped their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Bank of America lifted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.80.
Get Our Latest Analysis on DocuSign
DocuSign 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.
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