DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 63.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,884 shares of the company’s stock after selling 94,217 shares during the quarter. Concentric Capital Strategies LP’s holdings in DocuSign were worth $3,346,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DOCU. J.W. Cole Advisors Inc. boosted its stake in DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of DocuSign by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after buying an additional 157 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of DocuSign by 6.0% during the third quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after buying an additional 172 shares during the period. Dakota Wealth Management grew its holdings in shares of DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after buying an additional 181 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of DocuSign by 5.8% in the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock valued at $205,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DOCU. JMP Securities lifted their price target on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Citigroup increased their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Robert W. Baird raised their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company upped their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.80.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $80.26 on Tuesday. The company has a market capitalization of $16.29 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 8.25 and a beta of 0.90. The company’s fifty day moving average price is $72.42 and its 200 day moving average price is $61.22. DocuSign, Inc. has a 1 year low of $44.34 and a 1 year high of $86.75.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, equities analysts expect that DocuSign, Inc. will post 1.03 EPS for the current year.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 6.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,833 shares of company stock worth $3,816,297. 1.66% of the stock is owned by insiders.

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.