iA Global Asset Management Inc. Decreases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

iA Global Asset Management Inc. lessened its position in DocuSign, Inc. (NASDAQ:DOCU) by 20.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,516 shares of the company’s stock after selling 1,978 shares during the quarter. iA Global Asset Management Inc.’s holdings in DocuSign were worth $402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. increased its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of DocuSign in the first quarter valued at approximately $37,000. ICA Group Wealth Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $39,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on DOCU. Piper Sandler cut their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Bank of America cut their price target on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Robert W. Baird cut their target price on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Citigroup cut their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Morgan Stanley cut their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.36.

DocuSign Stock Up 0.3 %

DOCU opened at $59.21 on Friday. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The business has a fifty day simple moving average of $54.84 and a 200-day simple moving average of $55.61. The firm has a market cap of $12.12 billion, a P/E ratio of 113.87, a P/E/G ratio of 8.34 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The business had revenue of $709.64 million during the quarter, compared to analyst estimates of $706.07 million. Sell-side analysts expect that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares in the company, valued at $1,820,138.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The disclosure for this sale can be found here. Insiders sold a total of 474,693 shares of company stock worth $25,067,629 over the last ninety days. Company insiders own 1.66% of the company’s stock.

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.