DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by MAI Capital Management

MAI Capital Management lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 17.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,961 shares of the company’s stock after selling 2,387 shares during the period. MAI Capital Management’s holdings in DocuSign were worth $681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. J.W. Cole Advisors Inc. lifted its stake in DocuSign by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after acquiring an additional 157 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after acquiring an additional 172 shares in the last quarter. Dakota Wealth Management lifted its stake in DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after acquiring an additional 181 shares in the last quarter. Finally, Covestor Ltd lifted its stake in DocuSign by 5.8% during the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. 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. 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. Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JMP Securities increased their price target on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday. Finally, Bank of America increased their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.80.

Insider Activity

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the 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. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Up 3.6 %

Shares of NASDAQ:DOCU opened at $83.03 on Friday. The company has a market cap of $16.85 billion, a P/E ratio of 17.52, a P/E/G ratio of 8.41 and a beta of 0.90. DocuSign, Inc. has a 52 week low of $42.13 and a 52 week high of $83.68. The business has a fifty day simple moving average of $69.47 and a 200-day simple moving average of $60.23.

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

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.