IFM Investors Pty Ltd Decreases Stake in DocuSign, Inc. (NASDAQ:DOCU)

IFM Investors Pty Ltd lowered its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.0% in the third quarter, Holdings Channel reports. The firm owned 37,549 shares of the company’s stock after selling 1,175 shares during the period. IFM Investors Pty Ltd’s holdings in DocuSign were worth $2,331,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DOCU. Massmutual Trust Co. FSB ADV grew its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Mather Group LLC. grew its holdings in shares of 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 purchasing an additional 564 shares during the period. nVerses Capital LLC purchased a new stake in shares of DocuSign during the 2nd quarter worth about $48,000. Quarry LP purchased a new stake in shares of DocuSign during the 2nd quarter worth about $53,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of DocuSign during the 2nd quarter worth about $72,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 427,554 shares of company stock valued at $23,129,150. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Down 2.3 %

DocuSign stock opened at $68.99 on Monday. The stock has a market cap of $14.12 billion, a P/E ratio of 132.67, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92. The stock has a 50 day moving average of $61.87 and a 200-day moving average of $57.64. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $73.80.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. As a group, equities analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Royal Bank of Canada upped their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report 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. Robert W. Baird upped their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.40.

DocuSign Company 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.