Natixis Sells 87,690 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Natixis lessened its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 40.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,404 shares of the company’s stock after selling 87,690 shares during the quarter. Natixis owned about 0.06% of DocuSign worth $7,825,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOCU. Capital Analysts LLC lifted its position in DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after acquiring an additional 469 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in DocuSign in the 4th quarter valued at about $32,000. Register Financial Advisors LLC bought a new position in DocuSign in the 1st quarter valued at about $37,000. ICA Group Wealth Management LLC bought a new position in DocuSign in the 4th quarter valued at about $39,000. Finally, Whittier Trust Co. lifted its position in DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 2.4 %

Shares of DOCU stock traded up $1.30 during trading hours on Thursday, hitting $55.10. 1,339,478 shares of the company were exchanged, compared to its average volume of 2,850,019. The firm has a fifty day simple moving average of $54.54 and a 200 day simple moving average of $56.27. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 103.46, a P/E/G ratio of 8.73 and a beta of 0.94.

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

Insider Activity at DocuSign

In related news, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 approximately $1,820,138.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $52.17, for a total value of $772,063.83. Following the completion of the transaction, the insider now directly owns 68,083 shares of the company’s stock, valued at approximately $3,551,890.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares of the company’s stock, valued at $1,820,138.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,518 shares of company stock worth $6,149,670. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Friday, June 7th. Bank of America decreased their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Morgan Stanley decreased their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Piper Sandler decreased their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DocuSign has an average rating of “Hold” and an average target price of $59.36.

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.