BNP Paribas Financial Markets Sells 164,022 Shares of DocuSign, Inc. (NASDAQ:DOCU)

BNP Paribas Financial Markets trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 56.5% in the 3rd quarter, Holdings Channel reports. The firm owned 126,529 shares of the company’s stock after selling 164,022 shares during the quarter. BNP Paribas Financial Markets’ holdings in DocuSign were worth $7,856,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in DocuSign by 1.9% during the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after buying an additional 75,026 shares during the period. Renaissance Technologies LLC boosted its position in shares of DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of DocuSign by 4.1% in the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock worth $156,265,000 after purchasing an additional 115,616 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of DocuSign by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after buying an additional 112,919 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

NASDAQ:DOCU opened at $80.26 on Tuesday. The firm has a market cap of $16.29 billion, a P/E ratio of 16.93, a P/E/G ratio of 8.25 and a beta of 0.90. DocuSign, Inc. has a fifty-two week low of $44.34 and a fifty-two week high of $86.75. The firm has a 50-day simple moving average of $72.42 and a two-hundred day simple moving average of $61.22.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share 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 the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. On average, equities research analysts predict that DocuSign, Inc. will post 1.03 EPS for the current year.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,833 shares of company stock worth $3,816,297 over the last quarter. 1.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DOCU shares. Robert W. Baird boosted their price objective on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Royal Bank of Canada increased their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.80.

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.