Victory Capital Management Inc. decreased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 781,193 shares of the company’s stock after selling 133,895 shares during the quarter. Victory Capital Management Inc. owned approximately 0.42% of DocuSign worth $168,144,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Kovack Advisors Inc. purchased a new stake in DocuSign in the 2nd quarter valued at about $1,190,000. Meritage Portfolio Management raised its holdings in DocuSign by 14.1% in the 3rd quarter. Meritage Portfolio Management now owns 2,425 shares of the company’s stock valued at $522,000 after buying an additional 300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in DocuSign by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,337 shares of the company’s stock valued at $164,519,000 after buying an additional 10,893 shares during the period. Toronto Dominion Bank raised its holdings in DocuSign by 10.9% in the 3rd quarter. Toronto Dominion Bank now owns 29,556 shares of the company’s stock valued at $6,362,000 after buying an additional 2,915 shares during the period. Finally, Bank of Montreal Can raised its holdings in DocuSign by 141.2% in the 2nd quarter. Bank of Montreal Can now owns 46,060 shares of the company’s stock valued at $9,783,000 after buying an additional 26,961 shares during the period. 76.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DOCU stock traded up $3.32 during trading hours on Tuesday, hitting $211.45. The stock had a trading volume of 21,159 shares, compared to its average volume of 4,356,134. The firm has a market capitalization of $38.54 billion, a PE ratio of -184.19 and a beta of 0.94. DocuSign, Inc. has a twelve month low of $64.88 and a twelve month high of $290.23. The stock’s 50 day moving average is $219.82 and its 200 day moving average is $188.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 1.13.
DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.38. DocuSign had a negative return on equity of 28.28% and a negative net margin of 17.74%. The business had revenue of $342.21 million during the quarter, compared to analysts’ expectations of $318.55 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 45.2% compared to the same quarter last year. As a group, equities analysts predict that DocuSign, Inc. will post -0.88 earnings per share for the current year.
In other DocuSign news, Director Enrique T. Salem sold 49,299 shares of DocuSign stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $191.78, for a total transaction of $9,454,562.22. Following the sale, the director now directly owns 166,093 shares in the company, valued at approximately $31,853,315.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Loren Alhadeff sold 5,000 shares of DocuSign stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $211.98, for a total value of $1,059,900.00. Following the completion of the transaction, the executive now owns 75,573 shares of the company’s stock, valued at approximately $16,019,964.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,898 shares of company stock worth $21,204,644. 5.06% of the stock is owned by corporate insiders.
A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of DocuSign from $230.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. Citigroup boosted their price target on shares of DocuSign from $168.00 to $250.00 in a research note on Friday, August 28th. Wedbush boosted their price target on shares of DocuSign from $240.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lowered shares of DocuSign from a “buy” rating to a “hold” rating and set a $225.00 price target on the stock. in a research note on Friday, September 4th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. boosted their price target on shares of DocuSign from $150.00 to $271.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $238.71.
DocuSign Company Profile
DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.
Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.