Kovack Advisors Inc. Sells 309 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Kovack Advisors Inc. trimmed its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 3.5% in the 1st quarter, HoldingsChannel reports. The firm owned 8,442 shares of the company’s stock after selling 309 shares during the quarter. Kovack Advisors Inc.’s holdings in DocuSign were worth $503,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DOCU. Norden Group LLC purchased a new position in DocuSign during the first quarter valued at $467,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in DocuSign by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,219 shares of the company’s stock valued at $28,180,000 after buying an additional 3,038 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in DocuSign by 2.2% during the first quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock valued at $675,000 after buying an additional 240 shares during the last quarter. Quattro Financial Advisors LLC grew its holdings in DocuSign by 16,849.2% during the 1st quarter. Quattro Financial Advisors LLC now owns 10,000 shares of the company’s stock valued at $596,000 after buying an additional 9,941 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in DocuSign in the 1st quarter worth approximately $6,741,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

DOCU stock traded down $0.19 during midday trading on Thursday, hitting $54.13. 1,587,705 shares of the stock traded hands, compared to its average volume of 3,655,912. The stock’s fifty day simple moving average is $55.53 and its 200-day simple moving average is $56.69. The firm has a market cap of $11.08 billion, a P/E ratio of 104.10, a PEG ratio of 4.52 and a beta of 0.94. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $709.64 million for the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. On average, research analysts predict that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DOCU. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. Bank of America cut their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $48.00 to $62.00 in a report on Friday, April 12th. Royal Bank of Canada decreased their price objective on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday, June 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.36.

Insider Buying and Selling at DocuSign

In other news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $54.92, for a total transaction of $27,405.08. Following the completion of the transaction, the director now directly owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the sale, the insider now directly owns 35,703 shares in the company, valued at approximately $1,820,138.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 499 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the transaction, the director now directly owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,218 shares of company stock valued at $5,183,359. Company insiders own 1.66% of the company’s stock.

DocuSign 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.