Banque Cantonale Vaudoise Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

Banque Cantonale Vaudoise decreased its position in DocuSign, Inc. (NASDAQ:DOCU) by 90.3% during the 2nd quarter, Holdings Channel reports. The firm owned 3,892 shares of the company’s stock after selling 36,341 shares during the period. Banque Cantonale Vaudoise’s holdings in DocuSign were worth $208,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. raised its position in DocuSign by 7.7% during the 4th quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock valued at $505,000 after purchasing an additional 604 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of DocuSign during the fourth quarter valued at approximately $1,871,000. Victory Capital Management Inc. lifted its stake in DocuSign by 532.5% in the fourth quarter. Victory Capital Management Inc. now owns 139,255 shares of the company’s stock worth $8,279,000 after acquiring an additional 117,238 shares during the period. Amalgamated Bank boosted its holdings in DocuSign by 7.9% in the fourth quarter. Amalgamated Bank now owns 23,232 shares of the company’s stock valued at $1,381,000 after acquiring an additional 1,696 shares in the last quarter. Finally, Merit Financial Group LLC increased its position in DocuSign by 9.0% during the 4th quarter. Merit Financial Group LLC now owns 11,404 shares of the company’s stock valued at $678,000 after purchasing an additional 943 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DOCU shares. Robert W. Baird cut their target price on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Citigroup cut their price objective on DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Bank of America decreased their target price on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Royal Bank of Canada dropped their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Friday, June 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a 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 given a buy rating to the company. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average target price of $59.36.

Insider Activity at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $52.17, for a total transaction of $772,063.83. Following the transaction, the insider now directly owns 68,083 shares of the company’s stock, valued at $3,551,890.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total value of $91,764.00. Following the sale, the insider now owns 35,703 shares in the company, valued at $1,820,138.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $52.17, for a total transaction of $772,063.83. Following the sale, the insider now owns 68,083 shares of the company’s stock, valued at $3,551,890.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 474,693 shares of company stock valued at $25,067,629. 1.66% of the stock is owned by corporate insiders.

DocuSign Trading Down 2.2 %

NASDAQ DOCU opened at $57.91 on Wednesday. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The stock’s fifty day moving average price is $55.12 and its 200-day moving average price is $55.78. The stock has a market cap of $11.86 billion, a P/E ratio of 111.37, a P/E/G ratio of 9.74 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $706.07 million. As a group, analysts forecast that DocuSign, Inc. will post 0.83 earnings per share for the current fiscal year.

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.