Canton Hathaway LLC Sells 6,980 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Canton Hathaway LLC trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 26.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,205 shares of the company’s stock after selling 6,980 shares during the period. Canton Hathaway LLC’s holdings in DocuSign were worth $1,192,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Inspire Investing LLC bought a new position in DocuSign during the third quarter valued at $911,000. Comerica Bank lifted its position in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of DocuSign by 7.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after acquiring an additional 85,987 shares during the period. Finally, Carrera Capital Advisors purchased a new stake in DocuSign in the 3rd quarter worth about $666,000. 77.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DOCU has been the subject of a number of research reports. Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. JMP Securities boosted their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a report on Friday. Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, Citigroup lifted 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.80.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. This trade represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 over the last three months. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Performance

Shares of DOCU stock opened at $84.49 on Monday. The company has a market capitalization of $17.15 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $84.49. The business’s fifty day moving average is $69.47 and its 200 day moving average is $60.27.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million for 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%. During the same quarter last year, the firm posted $0.09 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

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.