Royal London Asset Management Ltd. Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

Royal London Asset Management Ltd. lessened its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 0.5% during the 2nd quarter, Holdings Channel reports. The firm owned 77,024 shares of the company’s stock after selling 389 shares during the quarter. Royal London Asset Management Ltd.’s holdings in DocuSign were worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Dakota Wealth Management grew its position 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 purchasing an additional 181 shares during the last quarter. New York State Teachers Retirement System grew its position in DocuSign by 1.0% during the 1st quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock worth $1,100,000 after purchasing an additional 187 shares during the last quarter. Motley Fool Asset Management LLC grew its position in DocuSign by 6.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after purchasing an additional 224 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in DocuSign by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after purchasing an additional 239 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in DocuSign by 2.2% during the 1st quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Robert W. Baird upped their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America upped their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, Piper Sandler dropped their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.45.

DocuSign Price Performance

DOCU opened at $56.63 on Friday. The firm has a fifty day moving average price of $55.57 and a 200 day moving average price of $56.07. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The stock has a market cap of $11.59 billion, a P/E ratio of 108.90, a P/E/G ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Equities analysts expect that DocuSign, Inc. will post 0.99 EPS for the current year.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the company’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 completion of the transaction, the insider now directly owns 68,083 shares in the company, valued at $3,551,890.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stephen Shute sold 35,300 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total value of $1,866,311.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $52.17, for a total transaction of $772,063.83. Following the completion of 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. Over the last ninety days, insiders sold 480,618 shares of company stock worth $25,432,336. Company insiders own 1.66% of the company’s stock.

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.