Daiwa Securities Group Inc. Sells 839 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Daiwa Securities Group Inc. decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,533 shares of the company’s stock after selling 839 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DocuSign were worth $964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Swedbank AB lifted its holdings in shares of DocuSign by 6.1% in the third quarter. Swedbank AB now owns 124,131 shares of the company’s stock worth $7,707,000 after buying an additional 7,090 shares in the last quarter. Cerity Partners LLC lifted its stake in DocuSign by 39.6% in the 3rd quarter. Cerity Partners LLC now owns 101,600 shares of the company’s stock worth $6,308,000 after purchasing an additional 28,829 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after purchasing an additional 16,014 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of DocuSign by 1.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 32,391 shares of the company’s stock valued at $2,011,000 after purchasing an additional 447 shares in the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in shares of DocuSign in the third quarter worth $3,710,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the sale, the chief financial officer now owns 78,265 shares of the company’s stock, valued at $5,384,632. This represents a 10.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 in the last ninety days. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DOCU. Citigroup lifted their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Bank of America upped their price objective 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. Royal Bank of Canada lifted their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company increased their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $65.80.

DocuSign Stock Performance

DOCU stock opened at $79.69 on Friday. The firm has a market cap of $16.17 billion, a P/E ratio of 16.81, a P/E/G ratio of 8.32 and a beta of 0.90. The firm’s fifty day moving average is $71.99 and its 200 day moving average is $61.07. DocuSign, Inc. has a 52 week low of $42.76 and a 52 week high of $86.75.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, analysts forecast that DocuSign, Inc. will post 1.03 EPS for the current 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.