C M Bidwell & Associates Ltd. Decreases Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

C M Bidwell & Associates Ltd. lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 32.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 840 shares of the company’s stock after selling 410 shares during the quarter. C M Bidwell & Associates Ltd.’s holdings in DocuSign were worth $76,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI increased its holdings in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after acquiring an additional 133 shares during the last quarter. Rakuten Securities Inc. increased its stake in DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD raised its holdings in DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after purchasing an additional 140 shares in the last quarter. M&T Bank Corp raised its holdings in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DOCU shares. Wells Fargo & Company increased their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Wedbush reiterated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research report on Friday, March 14th. Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Finally, Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling at DocuSign

In related news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is owned by company insiders.

DocuSign Stock Down 2.9 %

Shares of DocuSign stock opened at $83.18 on Monday. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company’s 50-day simple moving average is $87.18 and its 200-day simple moving average is $81.54.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Equities research analysts anticipate that DocuSign, Inc. will post 1.17 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.