Coronation Fund Managers Ltd. Has $1.38 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Coronation Fund Managers Ltd. reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 55.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,202 shares of the company’s stock after selling 29,220 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in DocuSign were worth $1,382,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Analysts LLC raised its stake in shares of DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after purchasing an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of DocuSign in the fourth quarter worth approximately $32,000. Register Financial Advisors LLC purchased a new stake in shares of DocuSign in the first quarter worth approximately $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign in the fourth quarter worth approximately $39,000. Finally, Whittier Trust Co. raised its stake in shares of DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after purchasing an additional 209 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded up $1.88 during trading on Wednesday, hitting $53.79. 2,355,188 shares of the company were exchanged, compared to its average volume of 2,944,789. The company has a market cap of $11.01 billion, a PE ratio of 102.37, a P/E/G ratio of 4.47 and a beta of 0.94. The stock has a 50 day moving average of $55.25 and a 200 day moving average of $56.45. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76.

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

Insiders Place Their Bets

In other DocuSign news, insider Stephen Shute sold 35,300 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total transaction of $1,866,311.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Stephen Shute sold 35,300 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 8,086 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the sale, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The disclosure for this sale can be found here. Insiders have sold a total of 117,518 shares of company stock worth $6,149,670 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DOCU. Bank of America reduced their target price 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 reduced their target price on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Citigroup reduced their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Morgan Stanley reduced their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Finally, UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and upped their target price for the company from $48.00 to $62.00 in a report on Friday, April 12th. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.36.

DocuSign Company 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.