Weatherly Asset Management L. P. Sells 3,145 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Weatherly Asset Management L. P. trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 32.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,618 shares of the company’s stock after selling 3,145 shares during the quarter. Weatherly Asset Management L. P.’s holdings in DocuSign were worth $393,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of DocuSign by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock worth $881,260,000 after buying an additional 482,472 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of DocuSign by 147.4% during the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after buying an additional 1,136,948 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of DocuSign by 166.4% during the third quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock worth $56,478,000 after buying an additional 839,883 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of DocuSign by 77.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock valued at $51,057,000 after acquiring an additional 531,682 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of DocuSign by 32.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 724,314 shares of the company’s stock valued at $30,421,000 after acquiring an additional 178,299 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Peter Solvik sold 15,000 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the director now owns 783 shares of the company’s stock, valued at approximately $46,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Allan C. Thygesen sold 7,680 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total value of $470,553.60. Following the sale, the chief executive officer now owns 111,767 shares in the company, valued at $6,847,964.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the director now owns 783 shares in the company, valued at $46,980. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock worth $3,176,199 over the last 90 days. Corporate insiders own 17.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Friday, April 12th. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and upped their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 price target on shares of DocuSign in a research report on Friday, April 12th. Finally, Wells Fargo & Company reduced their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.25.

DocuSign Stock Up 1.4 %

NASDAQ DOCU traded up $0.80 on Wednesday, reaching $57.51. The company had a trading volume of 419,242 shares, compared to its average volume of 3,309,686. The stock has a market capitalization of $11.81 billion, a P/E ratio of 158.34, a P/E/G ratio of 4.88 and a beta of 0.89. The company’s fifty day moving average is $56.11 and its 200 day moving average is $52.48. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The business had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. On average, research analysts expect that DocuSign, Inc. will post 0.86 EPS for the current year.

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.