Cambridge Investment Research Advisors Inc. Reduces Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Cambridge Investment Research Advisors Inc. trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,789 shares of the company’s stock after selling 5,920 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in DocuSign were worth $2,664,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after buying an additional 417,352 shares during the period. Coatue Management LLC purchased a new stake in DocuSign in the 4th quarter valued at about $288,274,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of DocuSign by 316.6% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after acquiring an additional 2,597,489 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of DocuSign by 6.1% during the 1st quarter. Clearbridge Investments LLC now owns 2,805,226 shares of the company’s stock worth $167,051,000 after acquiring an additional 161,762 shares during the period. Finally, Norges Bank purchased a new stake in DocuSign in the fourth quarter valued at approximately $133,826,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Daniel D. Springer sold 287,052 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the sale, the director now owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the sale, the insider now directly owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The disclosure for this sale can be found here. Insiders have sold 474,693 shares of company stock worth $25,067,629 in the last three months. 1.66% of the stock is owned by insiders.

DocuSign Trading Up 0.3 %

Shares of DOCU stock opened at $59.21 on Friday. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The company has a market capitalization of $12.12 billion, a PE ratio of 113.87, a price-to-earnings-growth ratio of 8.34 and a beta of 0.94. The firm has a fifty day simple moving average of $54.84 and a 200-day simple moving average of $55.61.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on DOCU shares. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Wednesday, July 10th. Piper Sandler reduced their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Robert W. Baird dropped their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Morgan Stanley reduced their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.36.

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.