Oppenheimer Asset Management Inc. Sells 94,338 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Oppenheimer Asset Management Inc. cut its holdings in DocuSign, Inc. (NASDAQ:DOCUFree Report) by 95.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,991 shares of the company’s stock after selling 94,338 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in DocuSign were worth $210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. MetLife Investment Management LLC purchased a new stake in DocuSign during the first quarter valued at $1,337,000. Raymond James Trust N.A. raised its stake in DocuSign by 27.3% in the first quarter. Raymond James Trust N.A. now owns 4,206 shares of the company’s stock worth $450,000 after buying an additional 901 shares in the last quarter. Sei Investments Co. raised its holdings in DocuSign by 21.8% in the first quarter. Sei Investments Co. now owns 177,214 shares of the company’s stock worth $18,934,000 after purchasing an additional 31,769 shares in the last quarter. National Pension Service lifted its position in DocuSign by 25.9% during the first quarter. National Pension Service now owns 347,633 shares of the company’s stock valued at $37,238,000 after acquiring an additional 71,449 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of DocuSign by 20.3% during the 1st quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after purchasing an additional 2,917,683 shares during the last quarter. 77.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 92,750 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $61.31, for a total transaction of $5,686,502.50. Following the completion of the transaction, the chief executive officer now directly owns 126,867 shares in the company, valued at approximately $7,778,215.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 92,750 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $61.31, for a total value of $5,686,502.50. Following the sale, the chief executive officer now directly owns 126,867 shares in the company, valued at $7,778,215.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,420 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $58.19, for a total transaction of $431,769.80. Following the sale, the chief executive officer now directly owns 119,447 shares of the company’s stock, valued at approximately $6,950,620.93. The disclosure for this sale can be found here. In the last three months, insiders sold 137,292 shares of company stock valued at $8,339,988. Company insiders own 17.80% of the company’s stock.

DocuSign Stock Performance

NASDAQ DOCU opened at $51.18 on Friday. DocuSign, Inc. has a one year low of $38.11 and a one year high of $69.45. The company has a 50-day simple moving average of $57.74 and a 200-day simple moving average of $49.38. The firm has a market capitalization of $10.44 billion, a PE ratio of 204.73, a price-to-earnings-growth ratio of 6.69 and a beta of 0.93.

DocuSign (NASDAQ:DOCUGet Free Report) last issued its earnings results on Thursday, December 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.16. DocuSign had a net margin of 1.90% and a return on equity of 14.06%. The company had revenue of $700.42 million during the quarter, compared to analyst estimates of $690.27 million. During the same quarter last year, the business posted $0.05 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts forecast that DocuSign, Inc. will post 0.57 earnings per share for the current year.

Analyst Ratings Changes

DOCU has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of DocuSign in a research note on Friday, January 12th. Piper Sandler reduced their price target on DocuSign from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Wells Fargo & Company decreased their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, February 5th. TheStreet raised shares of DocuSign from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of DocuSign from $50.00 to $45.00 and set an “underweight” rating on the stock in a research note on Friday, December 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.00.

Get Our Latest Analysis on DOCU

DocuSign Profile

(Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.

See Also

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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