Patten & Patten Inc. TN Sells 5,201 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Patten & Patten Inc. TN lessened its position in DocuSign, Inc. (NASDAQ:DOCU) by 42.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,009 shares of the company’s stock after selling 5,201 shares during the period. Patten & Patten Inc. TN’s holdings in DocuSign were worth $435,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV lifted its holdings in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 500 shares in the last quarter. Mather Group LLC. lifted its holdings in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares in the last quarter. Reston Wealth Management LLC bought a new stake in DocuSign during the 3rd quarter valued at about $47,000. nVerses Capital LLC bought a new stake in DocuSign during the 2nd quarter valued at about $48,000. Finally, Quarry LP bought a new stake in DocuSign during the 2nd quarter valued at about $53,000. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Citigroup boosted their price target on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Bank of America boosted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $63.40.

DocuSign Trading Up 2.3 %

Shares of DOCU opened at $81.22 on Tuesday. DocuSign, Inc. has a 12-month low of $40.64 and a 12-month high of $81.57. The firm has a 50-day moving average price of $64.76 and a 200 day moving average price of $58.68. The firm has a market capitalization of $16.49 billion, a P/E ratio of 16.80, a P/E/G ratio of 8.40 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million for 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 business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. Equities research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now owns 43,301 shares in the company, valued at approximately $2,937,106.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by corporate insiders.

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.