Intellectus Partners LLC Decreases Stake in DocuSign, Inc. (NASDAQ:DOCU)

Intellectus Partners LLC decreased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,977 shares of the company’s stock after selling 795 shares during the quarter. Intellectus Partners LLC’s holdings in DocuSign were worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DOCU. Oppenheimer Asset Management Inc. acquired a new stake in shares of DocuSign during the 1st quarter worth approximately $251,000. Russell Investments Group Ltd. increased its holdings in DocuSign by 24.8% in the first quarter. Russell Investments Group Ltd. now owns 224,433 shares of the company’s stock valued at $13,360,000 after buying an additional 44,597 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in DocuSign by 7.1% in the first quarter. Avantax Advisory Services Inc. now owns 16,173 shares of the company’s stock valued at $963,000 after buying an additional 1,077 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of DocuSign by 336.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 57,812 shares of the company’s stock worth $3,443,000 after acquiring an additional 44,573 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of DocuSign by 22.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,048 shares of the company’s stock worth $6,137,000 after acquiring an additional 19,149 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,558 shares of company stock worth $4,272,768. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Robert W. Baird boosted their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Finally, Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Price Performance

DOCU stock opened at $79.11 on Friday. DocuSign, Inc. has a 1 year low of $42.12 and a 1 year high of $83.68. The firm has a market capitalization of $16.06 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 8.66 and a beta of 0.90. The business has a 50 day simple moving average of $66.65 and a 200-day simple moving average of $59.33.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that DocuSign, Inc. will post 1.01 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.