DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Audent Global Asset Management LLC

Audent Global Asset Management LLC lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 66.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,683 shares of the company’s stock after selling 11,267 shares during the period. Audent Global Asset Management LLC’s holdings in DocuSign were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. lifted its stake in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares in the last quarter. Brooklyn Investment Group acquired a new position in DocuSign during the 3rd quarter worth about $33,000. Reston Wealth Management LLC acquired a new position in DocuSign during the 3rd quarter worth about $47,000. Finally, nVerses Capital LLC acquired a new position in DocuSign during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred 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 transaction, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 over the last quarter. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

DOCU opened at $79.69 on Monday. DocuSign, Inc. has a one year low of $42.76 and a one year high of $86.75. The company has a market cap of $16.17 billion, a P/E ratio of 16.81, a PEG ratio of 8.25 and a beta of 0.90. The business’s 50-day simple moving average is $71.99 and its 200-day simple moving average is $61.08.

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

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.