Cibc World Markets Corp Sells 2,744 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Cibc World Markets Corp lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 23.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,185 shares of the company’s stock after selling 2,744 shares during the quarter. Cibc World Markets Corp’s holdings in DocuSign were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Amundi boosted its stake in shares of DocuSign by 565.8% during the fourth quarter. Amundi now owns 1,379,575 shares of the company’s stock valued at $123,486,000 after purchasing an additional 1,172,368 shares during the period. Bank of New York Mellon Corp lifted its holdings in DocuSign by 61.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after buying an additional 637,505 shares in the last quarter. Fiera Capital Corp purchased a new stake in DocuSign in the 4th quarter valued at about $47,920,000. Principal Financial Group Inc. boosted its position in DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after buying an additional 529,308 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after acquiring an additional 434,312 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 3.5 %

Shares of DOCU opened at $88.06 on Friday. The company has a 50 day moving average of $87.54 and a two-hundred day moving average of $80.15. The company has a market cap of $17.79 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that DocuSign, Inc. will post 1.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DOCU shares. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Robert W. Baird set a $93.00 target price on DocuSign in a research report on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Finally, Wells Fargo & Company increased their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.00.

Insider Activity at DocuSign

In related news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at $3,947,732.77. This represents a 14.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock valued at $8,579,369 in the last three months. 1.66% of the stock is owned by insiders.

About DocuSign

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.